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Bitcoin- A final spike down before reversal?
Since the 68k ATH in November last year, Bitcoin is dropping and dropping, and dropping again with all rallies being sold.
However, at this moment, in my opinion, we are very close to a reversal and as I'm not a "tu da munar", I'm not "tu da gounder" either.
In the past 3 months, Bitcoin has drawn an H&S on our chart and a break under support would put pressure again on the main cryptocurrency, although the target for the pattern and also other types of analysis suggest a low of around 12k, I think we will not touch this.
A spike under this support is not out of the question though but, as I said, I expect a reversal after this final drop.
15500-16k could be a good place to buy and a price of above 25k by year's end is very probable
However, at this moment, in my opinion, we are very close to a reversal and as I'm not a "tu da munar", I'm not "tu da gounder" either.
In the past 3 months, Bitcoin has drawn an H&S on our chart and a break under support would put pressure again on the main cryptocurrency, although the target for the pattern and also other types of analysis suggest a low of around 12k, I think we will not touch this.
A spike under this support is not out of the question though but, as I said, I expect a reversal after this final drop.
15500-16k could be a good place to buy and a price of above 25k by year's end is very probable
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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