Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by Alexander_Z (1)
Frankly it is not looking good at the moment, I would even say it's time to sell, and buy back below 8k. I am pretty sure we are heading towards 7k-ish but hopefully we never go back below 6.4k. If we go back below 6.4 there will be a lot of blood (not like the movie).
Then in the middle term there should be a bounce back above 10k (I hope) but breaking above 11k and most importantly above 12.4k will be very tough.
Just hoping the halving will make things move to our advantage, but the technical analysis is looking very ugly in the short term
Posted 10 days ago.Then in the middle term there should be a bounce back above 10k (I hope) but breaking above 11k and most importantly above 12.4k will be very tough.
Just hoping the halving will make things move to our advantage, but the technical analysis is looking very ugly in the short term
I was talking about this 6.4k price, not surprised at all we went towards this price, thought it would be in December though.
Quite confident there is a bounce back from there though. It is a major and strong support.
Yes, I remember this post. The current situation is very ugly, looking more and more like the end of 2018. I would not be surprised if we go to 5.2k to form inverse head and shoulders. Cryptowinter is not over yet. Even 3k (and double bottom) is not impossible.
Yes. It was looking bad after 13500 failed, as I posted at the time. The 10500 failure was even worse, as I also posted.
The loss of 7300, and the way it happened, now leaves open the possibility of a new low for the bear move (3k) sometime in the next year. (This is, of course just chart-reading, which may or may not apply to BTC).
The real test now (and also arguably the biggest test of BTC's life) will be the halvening. If the price does not show very considerable strength in the next year, that would be a sign that the whole game has changed.
Unfortunately, the outcome will take around a year to define . As always, it will be a test of faith, so doubters should sell now (although better during the expected bounce to 7.5k) , and hodlers should find some other diversion for their interest !