LIVE--
Bearish
LIVEAnonymous B69
--
Bearish
🚨 URGENT! MUST READ.🚨
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🚨#Bitcoin is about to DUMP.🚨
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Here's why a "sell the news" event might occur for Bitcoin and an update on the weekly status:
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Daily Time Frame:
Since the pump on July 12th, we've entered overbought territory on the oscillator (on July 16th) and are developing a bearish divergence, indicating a potential correction as bulls lose momentum.
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Now refer to the first chart attached:
In this chart, I have drawn 2 paths showing what I expect $BTC to do in the coming days.
Yellow path: It shows that we have started the correction and we're going down to retest the 0.618 fib level, which also aligns with the 20 EMA on the daily. Before ultimately reaching somewhere between 1.618 and 2 fib levels, which will be very close to 80k, I'm personally betting on the fact that we'll reach 82k by August. Let's see what happens.
Personally, I'd like to see the yellow path play out because it gives #BTC to cool down for a bit.
Red Path: It shows that BTC continues to pump in anticipation of the upcoming Bitcoin conference, where Trump will give a speech. And as we come closer to the event, the hype dies down and we see a normal market correction to the current level, and i believe by that time the 20 EMA will also be very close to that level, thus completing the long-awaited retest.
Now let's talk about the weekly timeframe:
As you can see, bitcoin gave a weekly close above a major level of resistance, which is very bullish. The weekly oscillator is in neutral territory, showing that it still has the strength to continue with the pump, which gives me hope that we still have enough power left on the weekly to reach the 80s.
But one thing we have to be careful about is that the last time we reached this area on the oscillator, we got rejected on the pink MA in it. Right now we're at the same place, and I'd personally like to see bitcoin break this resistance ASAP.
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All in all, bitcoin is bullish, and we're in an uptrend, no more 48k here. Looking forward to a new ATH very soon.
~
Thanks for reading. Stay safe.🤝🏻
#crypto
~
🚨#Bitcoin is about to DUMP.🚨
~
Here's why a "sell the news" event might occur for Bitcoin and an update on the weekly status:
~
Daily Time Frame:
Since the pump on July 12th, we've entered overbought territory on the oscillator (on July 16th) and are developing a bearish divergence, indicating a potential correction as bulls lose momentum.
~
Now refer to the first chart attached:
In this chart, I have drawn 2 paths showing what I expect $BTC to do in the coming days.
Yellow path: It shows that we have started the correction and we're going down to retest the 0.618 fib level, which also aligns with the 20 EMA on the daily. Before ultimately reaching somewhere between 1.618 and 2 fib levels, which will be very close to 80k, I'm personally betting on the fact that we'll reach 82k by August. Let's see what happens.
Personally, I'd like to see the yellow path play out because it gives #BTC to cool down for a bit.
Red Path: It shows that BTC continues to pump in anticipation of the upcoming Bitcoin conference, where Trump will give a speech. And as we come closer to the event, the hype dies down and we see a normal market correction to the current level, and i believe by that time the 20 EMA will also be very close to that level, thus completing the long-awaited retest.
Now let's talk about the weekly timeframe:
As you can see, bitcoin gave a weekly close above a major level of resistance, which is very bullish. The weekly oscillator is in neutral territory, showing that it still has the strength to continue with the pump, which gives me hope that we still have enough power left on the weekly to reach the 80s.
But one thing we have to be careful about is that the last time we reached this area on the oscillator, we got rejected on the pink MA in it. Right now we're at the same place, and I'd personally like to see bitcoin break this resistance ASAP.
~
All in all, bitcoin is bullish, and we're in an uptrend, no more 48k here. Looking forward to a new ATH very soon.
~
Thanks for reading. Stay safe.🤝🏻
#crypto
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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