Re: Bitcoin going to $53k or down to $48k? (Bullish Scenario)

Quote from: soenan on September 06, 2021, 04:14:37 PM

Here I make a bullish scenario about bitcoin where we will go to $53k maybe even $55k.

Bitcoin is currently fighting its major resistance at $50k, although some of my friends want to start short, I forbid it because bitcoin in the minor Elliot wave allows it to pass through the major resistance.

Well, even then it could be that bitcoin has just finished its wave 1 and will be on the way to its wave 2 where we will find bitcoin at $48k again.

What do you think about bitcoin price predictions?

Thank you for taking the time to discuss this bitcoin price prediction. I understand that you are a busy person and I appreciate any advice you can give.

From a few weeks ago bitcoin is still experiencing a major correction (tends to be a downtrend), there is a potential to test support at the price of US $ 40,000 if the daily 200 EMA is broken down to the downside. For now, based on the pattern that tends to occur, it is necessary to reconsider if you want to open a buy position. Therefore, BTC is likely to move down again because the price is currently at its trendline resistance. Keep watching if the price is able to breakout the trendline resistance, then the price will continue to rise.