What has happened during last 24 hours? Somebody have sold a solid volume of bitcoin and decreased its value to 7200$. The market has swallowed this volume and holds the price in the moment.
The situation seems to be very controversial now. From the one hand we could see a divergence of MACD and RSI on 4h timeframe , which are bullish signs.
But from another aspect of view I see a formation of an inclined triangle - it is an Elliott's wave pattern which is formed before the resumption of a trend. It means that we could see a continuation of a downfall to the bottom ( 5900-6300 and it would be the triple bottom).
But from my point of view this scenario is unlikely to be seen in the future, so I continue to HODL hold my positions.
What is your opinion about bitcoin price ? Are you bullish or bearish?Please ,write your opinion in the comments down below. See you in a next review. Good luck!
I think it will fall down to 6K $ and then will rise again.
Yeah , it even seems to be very logically preferred for marketmakers to do that. When we bottom, the last cryptohamsters who bought at 10k would panicsell. And then after a couple of days the price would scyrocket. But now for the rest we should only watch carefully what is the next step of guys from Wall Street who are obviously already here