BITCOIN LONG TERM ANALYSIS
The last true and visible trend on Bitcoin was bearish. This was the downtrend from 48,000- 17,500, and the trend lasted from March to June 2022. Since then, Bitcoin has been consolidating, almost a year to date. Even after the collapse of FTX and several other exchanges last year, there was little reaction on the actual Bitcoin chart. It will take time for investors to be confident in Bitcoin again, but I am almost certain we will see another bear trend in 2023.
Nota
Watch for the double top and sell!Nota
Don't be tempted to sell, until Price tags 33000.Nota
Price is almost at the selling zone. There is a consolidation on H4. Now we wait for a bull trap ( fakeout) to 32500 before selling.Nota
Don't sell Bitcoin just yet. Selling price is about 33000.Nota
Patience is a virtue. Patience pays, especially in trading. Wait and sell only at 33000Nota
Looks like price is technically 'stuck' at these levels. Since the bearish momentum is lacking, we may see a price spike to previous highs before the bears come in.Nota
BTCUSD setting up for a nosedive !Nota
200 PIPS STRONG !Nota
500 PIPS ON BTC !Nota
Its very likely that the weekly candle will close as a shooting star !Nota
The weekly candle will close at new lows as the NFP is expected to add more fuel to the fire !Nota
New lows on the current downtrend as BTC tags 25500 !Nota
25000 is the new low on the BTC downtrend, a break below 24500 will expose BTC to new lows below previous support @ 19500 !Nota
Watchout for the FAKEOUT !...The fall of BTC is inevitable !
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