Hi all,
My thoughts on Bitcoin for the next couple of days.
After a deadcat bounce we have two possible situations: bearish contuination or a bullish swing.
If Bitcoin fails to break the resistance market in blue, a 2nd deadcat bounce is possible. The fear in the market is strong and there isn't enough buying volume on the bitfinex or bitmex.
If we do bounce here, with a possibility it will double bottom on the 8500 level, we could see a bullish move back to 9k. The bounce back to 9k would make a nice cup form, indicating that a cup and handle could form.
I surely hope it bounces of the 8500 but I am far from certain.
Keep your stop losses tight!
*Not financial advice and for educational purposes only.
My thoughts on Bitcoin for the next couple of days.
After a deadcat bounce we have two possible situations: bearish contuination or a bullish swing.
If Bitcoin fails to break the resistance market in blue, a 2nd deadcat bounce is possible. The fear in the market is strong and there isn't enough buying volume on the bitfinex or bitmex.
If we do bounce here, with a possibility it will double bottom on the 8500 level, we could see a bullish move back to 9k. The bounce back to 9k would make a nice cup form, indicating that a cup and handle could form.
I surely hope it bounces of the 8500 but I am far from certain.
Keep your stop losses tight!
*Not financial advice and for educational purposes only.