What the last increase helped to make is that there is a small bottom right now, the price stays above $11.5k and we know that, when you never try you do not know where you drop, but after that first try above $12k that showed that we could fall but we do not fall too much, that way we could at least try again and we would know that what we would be doing, and that way people would be ready for a fall if it happens, obviously we will not try to increase the price just so it will drop, surely we will want to increase the price and keep going BUT if it falls at least we know the price will not go down under $11.5k most probably.
However one thing is for sure that the bounce back will come, after the last times increase we would definitely see a new increase and would know what to expect from it.
Topic: Bounce Back is coming? - page 6. (Read 973 times)
If that trendline below will continue to act as a support of Bitcoin, a big possibility we can again see $12,000 or above.
Especially we are about again to see the monthly close candle for sure we can see huge volatility from here, either it will push again to $12,000 or a dump below $10,000.
Well, it's really difficult for now, that's why on current's price level of Bitcoin is not my trading zone as of the moment.
Especially we are about again to see the monthly close candle for sure we can see huge volatility from here, either it will push again to $12,000 or a dump below $10,000.
Well, it's really difficult for now, that's why on current's price level of Bitcoin is not my trading zone as of the moment.
Every of possibilities said here are likely to happen and in this moment it's quite hard to say which one is more likely. Although it seems to me that some further corrections are possible. I also don't trade at the moment and I think it's quite wise decision. Anyway, some patience is needed except for this one who really want to risk big
If that trendline below will continue to act as a support of Bitcoin, a big possibility we can again see $12,000 or above.
Especially we are about again to see the monthly close candle for sure we can see huge volatility from here, either it will push again to $12,000 or a dump below $10,000.
Well, it's really difficult for now, that's why on current's price level of Bitcoin is not my trading zone as of the moment.
Especially we are about again to see the monthly close candle for sure we can see huge volatility from here, either it will push again to $12,000 or a dump below $10,000.
Well, it's really difficult for now, that's why on current's price level of Bitcoin is not my trading zone as of the moment.
Previously breakout of the 12k$ Horizontal Support will at least lead to the retest of the Lower Boundary of an Ascending Channel, which happened. Locally it should be a bottom as we got the majority of Longs got liquidated during the last 2 days (look chart above).
Technically it's a also a good point to retest, we are at the Support Cluster [11.650$ Horizontal Support + Lower Boundary of an Ascending Channel]. Nevertheless we have two work with a confirmed retracement.
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