Re: 4 Key Similarities to Previous Bull Market Corrections
What scenarios are there?
In a bullish scenario, the price has to break the $9,800 level (old support before the dropdown) and reclaim that as support. If Bitcoin is able to do so, then were aiming at $10,800 again (trendline and horizontal resistance zone).
Bearish scenario
If Bitcoin wont be able to break the $9,800 level again and turns it into resistance (or the $9,650 zone), the lower support levels at $8,900 and the possible area around $8,500 are likely to be tested, given the prior analysis of the 100-week MA ranging around $8,500 and the CME futures gap at $8,500.
In a bullish scenario, the price has to break the $9,800 level (old support before the dropdown) and reclaim that as support. If Bitcoin is able to do so, then were aiming at $10,800 again (trendline and horizontal resistance zone).
Bearish scenario
If Bitcoin wont be able to break the $9,800 level again and turns it into resistance (or the $9,650 zone), the lower support levels at $8,900 and the possible area around $8,500 are likely to be tested, given the prior analysis of the 100-week MA ranging around $8,500 and the CME futures gap at $8,500.
well the price broke the $9800
unfortunately the price failed to break the $10800 but it didn't fall much
Bitcoin Price Rejected at $10.8K as Crypto Market Braces for Bakkt
all attention is focused on the release of BAKKT, I hope this time does not disappoint us