 | We can look at the chart and realize we are in a downtrend, but i'm still very bullish with BTC. We are having lower highs and lower lows but that's just part of the sword reversal pattern. As soon as we start to break through the key resistance levels on our blue line, we are going to enter in an unprecedented bull run because the sword will start to be reversed back. But we are not only bullish on the longterm. If we zoom in into the daily graphic, we can also see that bitcoin just broke a key resistance at the Gauss triangle, which is another strong bullish sign that this downtrend is about to be reversed. I'm not 100% sure though. Technical analysis isn't 100%. But the goal is not to predict the market, but to prepare for it. So, if we continue at a downtrend and brake the key 35k resistance levels, we would have some bearish predictions in the short term, as we can see in the goliath star key resistance point. But like I said guys, overall the TA is showing some extremely bullish signs and its a great time to buy, specially if you are a long term investor. My most bearish prediction would be bitcoin at 200k at the end of the year, specially if we break the goliath star, but that's a short term bearish prediction. If we actually enter the sword reversal pattern, i'm pretty sure we are going to 500k by the end of year. TLDR; we are extremely bullish long term and could have some short-term bearish action in the markets. We either could go up or down. [link] [comments] |
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