As we talked about months ago and expected the bottom for Bitcoin... the price completely reached the support areas. It rose by 38%.
We are now in a critical and confusing stage for everyone, and this situation is the positive start and signs of reaching the bottom, but... so far we have not reached the stage of despair and people are still buying bitcoin at the current prices, considering that we have reached the bottom and they want to sell at the new top... This is not happening, except in dreams...
If people don't sell while they are terrified of bitcoin's disappearance, the price will not rise significantly This is what happened in 2020, have we really reached the bottom of bitcoin??
At the bottoms we see whales and so far they don't exist...
As you can see this price channel, the price adheres to the upper limit, the lower limit, and the midline … and we notice that going down to the lower limit will re-test the real previous supply zoon which has been braked on Aug. 2020, and it is supposed to turn into a support area when retesting … But what about these 20000 to 17000 areas, oh My friends, it was not a clear supply area, we did not see any real resistance in these areas and the price did not stay in it for a while to prove that it is a resistance and supply area... The supply area that causes the drop for once is not strong enough to turn into a support area after broken, So... We are faced with two possibilities: either go down to the old supply areas to re-test them, which puts us at areas between prices 13,000 $ to 10,000 $, or we break these areas as well and go down to the last real support, which is areas 5000 $ to 3500$. Impossible?? Remember, you said impossible when we talked about the last downturn...
The impossible things are the only possible in the markets.
None of the above is considered financial or investment advice.
We are now in a critical and confusing stage for everyone, and this situation is the positive start and signs of reaching the bottom, but... so far we have not reached the stage of despair and people are still buying bitcoin at the current prices, considering that we have reached the bottom and they want to sell at the new top... This is not happening, except in dreams...
If people don't sell while they are terrified of bitcoin's disappearance, the price will not rise significantly This is what happened in 2020, have we really reached the bottom of bitcoin??
At the bottoms we see whales and so far they don't exist...
As you can see this price channel, the price adheres to the upper limit, the lower limit, and the midline … and we notice that going down to the lower limit will re-test the real previous supply zoon which has been braked on Aug. 2020, and it is supposed to turn into a support area when retesting … But what about these 20000 to 17000 areas, oh My friends, it was not a clear supply area, we did not see any real resistance in these areas and the price did not stay in it for a while to prove that it is a resistance and supply area... The supply area that causes the drop for once is not strong enough to turn into a support area after broken, So... We are faced with two possibilities: either go down to the old supply areas to re-test them, which puts us at areas between prices 13,000 $ to 10,000 $, or we break these areas as well and go down to the last real support, which is areas 5000 $ to 3500$. Impossible?? Remember, you said impossible when we talked about the last downturn...
The impossible things are the only possible in the markets.
None of the above is considered financial or investment advice.
