BTC/USDT - Week 50 - Will the bears win the battle?
Hello traders,
Today I am gonna make my prediction for the end of the year in regards to Bitcoin. As you can see the price started to move sideways on the Daily Timeframe from mid April. In the bigger picture this is only a corrective pattern for the bullrun that occurred from the beginning of 2020.
Having said that, at this moment in time, following the drop from the 10th of November 2021 the market is starting to find some stability, but for how long?
On the 5th of December, the price bounced off the 42k support level and right now is moving sideways. I can see the price reaching the resistance area highlighted on the chart before falling below the 40k psychological level.
Every impulse is followed by a correction (dip/pullback) which paves the way for another impulse in the same direction (follow the arrows).
Will this be the start of a crypto winter? It could, but I expect it to be a short one and the price to reach the 36k liquidity level before heading towards a new all time high.
So, I won't paperhand if I see the price dropping even more from here.
Trade safe.
Best regards,
Alex A.
Disclaimer: Not financial advice & do your own research
Today I am gonna make my prediction for the end of the year in regards to Bitcoin. As you can see the price started to move sideways on the Daily Timeframe from mid April. In the bigger picture this is only a corrective pattern for the bullrun that occurred from the beginning of 2020.
Having said that, at this moment in time, following the drop from the 10th of November 2021 the market is starting to find some stability, but for how long?
On the 5th of December, the price bounced off the 42k support level and right now is moving sideways. I can see the price reaching the resistance area highlighted on the chart before falling below the 40k psychological level.
Every impulse is followed by a correction (dip/pullback) which paves the way for another impulse in the same direction (follow the arrows).
Will this be the start of a crypto winter? It could, but I expect it to be a short one and the price to reach the 36k liquidity level before heading towards a new all time high.
So, I won't paperhand if I see the price dropping even more from here.
Trade safe.
Best regards,
Alex A.
Disclaimer: Not financial advice & do your own research
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