Lots of traders still want to see more bull sign on BTC. Technicelly, I dont think that is going to happen very soon. A potential HARMONIC pattern is showing us where D could be. Check the red support zone. For FIBO 886, BTC will test 5k first. For the bottom of the red box, also where the HARMONIC pattern start, you could see 3k. What happen to that if BTC can not stop dropping after testing 3k? 2 k is coming . Good luck!
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The chart above is showing not bullish sign on Daily chart. So until now, we keep bearish view on BTC.
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Lets try to get more clue on 4h chart. Two channels up there. The light blue one is now BTC staying in . The blue one is where BTC just finished a corrective wave and now making its wave 3 down to next 2 supports .
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Lets say a retest of 6k is really high possibility . What about 2K-3K?
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That is not going to happen straightly right now. Traders should know that speculation market which you are trading in is full of buyers and sellers. Price usually go "z" way.
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We were trying to hunt a corrective wave for BTC , some of them stop loss hit, some was success. It happens as long as you are still want to trade.
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Assuming that you entered based on the chart above at 8900. Now you are making $1100. You could just leave with profit.
The gold is tradin for 1300 USD, I don't understand why BTC is trading for 8k...
Giovi6969
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@magicliff,
Because it is a Bubble. A huge bubble, and probably the biggest in the history of economics
magicliff
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@Giorgioversace, Yep, I am afraid that BTC will never test 10k already...
Giovi6969
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@magicliff,
It is possible.
It all depends of the outcome of this bubble bursting and what will governments say about it once it's completely burst.
Vladimir_RFF
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@Giorgioversace,
Its very far from being the biggest in the history
Giovi6969
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@Vladimir_RFF,
I do not mean in marketcap when i say that, but in difference of low to high price value, and the possible low value that post burst could be, and it could become zero or close to zero.
Belmi
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@Giorgioversace, do you think all cryptos are?
Giovi6969
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@Belmi,
Yes of course, they would all probably soon or later reach zero. This bubble is very complex as the market is extremely manipulated (basically it is a sort of scam, maybe the biggest scam ever created so far), so Btc could go to 30k, 40k... but it will go back to very close to zero for sure when people will realise it is a scam and manipulations inside a non regulated small market : pump and dumps and raises that are stealing money from the average buyer
Belmi
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@Giorgioversace, if the currency does not have a useful scope in real life, I could agree. hopefully some of those will find some kind of way to be useful ...