#Bitcoin just got rejected from the Mid-Range 🚨
Since the $15,500 bottom, after every major upside move, we have seen Bitcoin ranging for a few weeks, followed by a 20-22% correction before the next leg up!
If the price follows the same pattern and ranges below the mid-range, we can expect a nice altcoin rally while Bitcoin goes sideways.
Additionally, a -21% pullback from the mid-range would put us at $35,000, which is also a monthly support level.
Pullback or No Pullback the Higher Time frame trend stays Bullish & Bull Market Dips are for Buying 🤝
#Bitcoin x Psychology of Crypto Market
Chart showing psychology of majority of the retail Investors, who mostly end up buying the top & selling the bottom
We are at stage '3' - its still below ATH
#Bitcoin
Some call it a double top
Others label it as distribution
Some are anticipating a black swan event
While others are eagerly waiting for the $12000 level
Meanwhile,
Bitcoin hit its bear market lows, price pumped and broke out of the downtrend. Price has been consolidating in a Range / Wedge for the past 210 days.
A breakout will trigger the continuation of the Uptrend..
#BTC/USDT ANALYSIS
BTC is currently undergoing a retest below the descending triangle, with the MA 200 serving as a notable resistance level.
For bullish confirmation, bulls need to reclaim the marked resistance and break the descending trendline.
#Bitcoin is not Going to $12k 🚨
Here is why :
- 93% of all Bitcoin has now been mined.
- World's largest asset manager Blackrock files for Bitcoin spot ETF
- Mysterious wallet accumulated $3 Billion worth $BTC In just 3 months
- Europe gets its first Spot Bitcoin ETF
- Only 6.3% Of Total Bitcoin Supply Left On Exchanges
- Bitcoin Halving in just 8 months
- Bitcoin supply shock inevitable
This could be the Final Shakeout/Manupulation before the real Bull Run begins. Next 2-3 months are going to be Important!
Don't miss the second chance. Act smart 🫡
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