The market stays bearish, boring, and all the previous ideas are still workable. I wrote about the bullish plan, and I wrote about the terms for the bearish plan. These posts you can find in the related ideas, and I advise you to refresh your knowledge.
The price stays at 8000.00 key level. The market could not develop the upward movement and bounce from SMA with 200 period. The market also did not drop below swing lows. Without it, we don't have confirmation for the further downward movement. The market keeps the sideway movement, and it is rather weird. We got bearish fundamental news from Libra, TON, Bakkt, but the market did not follow them. Can we consider it as the market matched the balance at 8000.00 and we will see the range market conditions during the further months? It is a good question for a new discussion! If you have your opinion, please, share it in the comments.
The price stays in the borders of the descending price channel, and even the market will move upward, for becoming bullish it will need to break the price channel and move above the key resistance levels like 9000.00 and 10 000. Without it, I still think the bottom at 6000.00 key support will be reached. It is just the question of time. After that we should expect a new uptrend, if the fundamental news support the market and buyers. It is my opinion and of course it can be wrong.
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Too many people calling for lower I don't think the whales are going to allow it, at a certain point there won't be any sellers left and we're going to have lift off
DLavrov
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@PeterDayrl, we will see! thanks for your opinion!
ceesounds
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Everyone being so bearish has made me bullish over the last few days. We have corrected 40% and already and people are waiting for a lower entry??? I am no moon boy but we are going up from here to test the higher levels again.
@UncannyDeduction, i agree with you. So many bears on here calling for 6k and on CT
tearliner
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lol 6k aint coming
kardia
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@tearliner, the thing to understand about BTC is it is very expensive. That's why people should be careful not to think too much about a move within $500. People get too excited when BTC moves a couple hundred dollars. This is nothing for BTC. But moon boys start blowing trumpets and the gullible FOMO in only to be dumped on by whales and wrecked. In short, BTC could easily go to 6k if whales want to take it there.