Post
Topic
Board Trading Discussion
Re: BTC analysis today
by
Kgdktac
on 24/01/2023, 16:24:09 UTC
⚠️WARNING!!!⚠️ IF THIS HAPPENS BITCOIN WILL DUMP HORRIBLY!!!!!!✅ BTC analysis today

https://www.youtube.com/watch?v=1M9SC9MCHjQ

Well the video isn't a bad analysis and neither is it painting a doom and gloom picture for Bitcoin, from the analysis he is expecting a short correction to 19300 (a higher low) then a continuation to the upside... This Scenario is the best possible outcome for Bitcoin price. Myself have a more rooted fear from a macro perspective... Many people don't like red market analysis which is understandable as many are Hodlers, But as speculation goes it is wise to see what the Bulls has got going for them and at the same time understand the Bear's case. There is a death cross on the weekly about to complete which forms the decisive resistance at 24500 to 25000 region. The pull back will come but the question will be how severe, a higher low will have us chasing higher targets of btc price, but a lower low (if the rejection was severe) will mean 10k or below.This link shows a picture of what I'm trying to point out https://twitter.com/Maxtwo10/status/1617915731865370625?t=B2lCeoclmaVGBO-XbUxqiQ&s=19 . also note how the weekly candles is getting smaller as it exhausts into the resistance. All that being said I prefer we bounce to the upside.