Fact": Ever since bitcoin was rejected twice at $44,500 and $43,800, it keeps breaking the previous support until an hour ago, it seemed to finally stay above $42429. In fact, just a minute ago, bitcoin has successfully stayed above the previous support meaning it is trying to inform us that a confirmation was established, that is on a 1-hour chart.
Personal view: In spot trade, as of now, focusing the bearish trend is fine. However, for those who are in leverage trade, even we know we are on a bearish trend. You must not ignore the fact we are in the middle of the chart meaning at anytime. Bitcoin price may shoot up to $46k, $57k, or even $67k in just 2 seconds, don't know if some of you experience the 24k sudden move up and down in 2 seconds....believe it or not, it happened just about a week ago. It is wise to set a stop loss as always because once that move comes, I am 100% sure your position will be liquated without stop loss!
Bitcoin downside targets: $39600, $32500
- 2018 (First ATH) 18-19k - Retest
- I have never learned from a T.A. book but I definitely would also count the 2018 Fake ATH at14k in my picture and I am quite confident we will see it happen!
- Will the drop finish by then.....maybe not because I actually believe I have found the exact ultimate target which sounds quite insulting. I think it is better for me not to say anything for now!
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- Later on, I will post some cryptos that I believe they have great potential for the new market cycle- Of course, no matter how good they sound, we need to know the entry Target that is really important!
Help support the channel and my work is greatly appreciated:
BTC: 3BssHqtftLAsAwDtN4QVMhJP25chWmT7Tf
Eth: 0x36AeeaF52F08c5e87cf2ac7B94C090d8d89Ba37F
