It's all about how and when to get out of the downtrend channel.
Only if BTC get out of the down-trend channel, and after the pull back didn't fall back to the channel, we can say the bull comes.
So right now, we have two scenario:
1, BTC forms the head and should reverse pattern, we arrived the 5000 above area, then I will say we will go through a tough long term period of down trend, and 5000 will be the high for a long time, until we break out of the down trend channel.
2, The more optimistic one is we fall back to 3000, and hold it until we break out of the channel. Then we can say the 3000 will be the ultimate bottom of BTC.
Everything is about the channel. Happy trading! Peace!
Only if BTC get out of the down-trend channel, and after the pull back didn't fall back to the channel, we can say the bull comes.
So right now, we have two scenario:
1, BTC forms the head and should reverse pattern, we arrived the 5000 above area, then I will say we will go through a tough long term period of down trend, and 5000 will be the high for a long time, until we break out of the down trend channel.
2, The more optimistic one is we fall back to 3000, and hold it until we break out of the channel. Then we can say the 3000 will be the ultimate bottom of BTC.
Everything is about the channel. Happy trading! Peace!