What I THINK will happen next..
Hello there, I'm a newbie on this site and I'm also a newbie in trading analysis overall, but on the other hand I'm trying to learn so don't take any of my ideas too serious because they are more like my personal log of fails and successes.
So, here's how I came up with this idea:
1. We are still in bear market since we didn't went through ATH so I think that this last trend was just one of short-term uptrends
2. Bitcoin's price fell below previus highest low which is considered half signal (I think?)
3. We are way above long-term Moving Averages so correction is needed
4. Volume during that last dip didn't really increase, which means that buyers probably think that the price is still too high/to risky
5. Pattern is very similar to that one when BTC went to 54k EUR just at smaller scale
Maybe I forgot something, but yes, this is my idea and if you like it please leave a like or comment of what you think about it because every little tip would help me in my learning journey.
Thank you
So, here's how I came up with this idea:
1. We are still in bear market since we didn't went through ATH so I think that this last trend was just one of short-term uptrends
2. Bitcoin's price fell below previus highest low which is considered half signal (I think?)
3. We are way above long-term Moving Averages so correction is needed
4. Volume during that last dip didn't really increase, which means that buyers probably think that the price is still too high/to risky
5. Pattern is very similar to that one when BTC went to 54k EUR just at smaller scale
Maybe I forgot something, but yes, this is my idea and if you like it please leave a like or comment of what you think about it because every little tip would help me in my learning journey.
Thank you
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