Bitcoin (XBT) long-term bearish scenario !!!!
Hello everybody.
I have talked with a lot of traders and analysts and a lot of people talk about the bullish scenario and the coming mid term bull run which can lead the price around 9k and even 10k :).
Lets analyse the things very very briefly :
So, we saw a huge rejection in 8500 level and in less than 24 hours we had a flash crash from 8.4k to the 7.8k. Also im wondered a little bit with the sell volume and those big players who sold huge amount of bitcoin in the past 24 hours in big exchanges. There is an interesting bearish scenario that i provided for you. we should put this fact into consideration that before any mega bull run to happen, we need a huge accumulation where big players and people buy step by step. In the other hand as you see we are in the bearish channel at the moment. and that rejection and big sells at 8.5k is keeping the price below the red resistance line i drew.
But, the price behavior in the next 2 weeks can tell us whether we will see a lower low before halving or not. I think we will test and touch the red resistance line again and if another rejection gonna happen, then we will go down to very lower levels (Bearish scenario). So, for bulls and buyers the 7500 support is very important. going below this level can be the beginning of heading to lower lows !!
Please dont forget to like, comment and more importantly follow me. it means so much for me. Thanks
I have talked with a lot of traders and analysts and a lot of people talk about the bullish scenario and the coming mid term bull run which can lead the price around 9k and even 10k :).
Lets analyse the things very very briefly :
So, we saw a huge rejection in 8500 level and in less than 24 hours we had a flash crash from 8.4k to the 7.8k. Also im wondered a little bit with the sell volume and those big players who sold huge amount of bitcoin in the past 24 hours in big exchanges. There is an interesting bearish scenario that i provided for you. we should put this fact into consideration that before any mega bull run to happen, we need a huge accumulation where big players and people buy step by step. In the other hand as you see we are in the bearish channel at the moment. and that rejection and big sells at 8.5k is keeping the price below the red resistance line i drew.
But, the price behavior in the next 2 weeks can tell us whether we will see a lower low before halving or not. I think we will test and touch the red resistance line again and if another rejection gonna happen, then we will go down to very lower levels (Bearish scenario). So, for bulls and buyers the 7500 support is very important. going below this level can be the beginning of heading to lower lows !!
Please dont forget to like, comment and more importantly follow me. it means so much for me. Thanks
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