BTC breaking shock area, bullish is coming or halving effect?
https://www.tradingview.com/chart/T4dJcKED/
Bitcoin finally broken the long period consolidation trend, in my analysing strategy yesterday, i thought that breaking may happen at the weekend, now it's a little bit earlier than prediction, but doesn't matter, almost the same.
So let's talk about the effectiveness of this breaking, many guys in may group guess that bullish is coming or not ? I can just tell an opinion of my own, i believe that if u guys think that return back to 9K or 10K is a bullish market, i think it may come ture, but if expect to 15K or even 20K, it's not possible this year.
In fact, i believe that the breaking yesterday is an expectation for the halving of the market, when most investors in a market have the same expectation to a crucial event( to BTC, is halving), the market emotion will follow, as the halving date is closing and BTC is exactly right located in a relatively low area after the plunge in March, these two factors multiply together and led the breaking.
My own opinion is that before halving, BTC is hard to get back to $6500 if the pullback can stabilize on $7450~$7500, this means that the breaking is true, and waiting for stabilizing is aiming to confirm. However, the resistance area between $7700~$7850 still has a very hard resistance as the chart shows that in Sep and Dec of 2019, this resistance used to be the lower and upper edge of the two consolidation areas, there exists so many counters, therefore, if the halving event can make price break this area, plus the character that market trend is hard to change in short term, it's possible to push the price to 9k or even 10k, but there is no sence to predict this.
Investors should remind that after halving , profitable funds may leave the market indeed, and this will lead some small pullback trend during the big scale of bullish trend, so short term traders and future traders should strictly control the position.
🚀BTC Short-term Trading signal: Pre-condition: price keep support by $7400~$7450 within today.
long: open around 7450~7550
close 1: 7650
close 2: 7700
close 3: 7850
stop loss: 7400 Become member of OKEx and enjoy more services : okex.com/join?channelFlag=ACECO2501021
Bitcoin finally broken the long period consolidation trend, in my analysing strategy yesterday, i thought that breaking may happen at the weekend, now it's a little bit earlier than prediction, but doesn't matter, almost the same.
So let's talk about the effectiveness of this breaking, many guys in may group guess that bullish is coming or not ? I can just tell an opinion of my own, i believe that if u guys think that return back to 9K or 10K is a bullish market, i think it may come ture, but if expect to 15K or even 20K, it's not possible this year.
In fact, i believe that the breaking yesterday is an expectation for the halving of the market, when most investors in a market have the same expectation to a crucial event( to BTC, is halving), the market emotion will follow, as the halving date is closing and BTC is exactly right located in a relatively low area after the plunge in March, these two factors multiply together and led the breaking.
My own opinion is that before halving, BTC is hard to get back to $6500 if the pullback can stabilize on $7450~$7500, this means that the breaking is true, and waiting for stabilizing is aiming to confirm. However, the resistance area between $7700~$7850 still has a very hard resistance as the chart shows that in Sep and Dec of 2019, this resistance used to be the lower and upper edge of the two consolidation areas, there exists so many counters, therefore, if the halving event can make price break this area, plus the character that market trend is hard to change in short term, it's possible to push the price to 9k or even 10k, but there is no sence to predict this.
Investors should remind that after halving , profitable funds may leave the market indeed, and this will lead some small pullback trend during the big scale of bullish trend, so short term traders and future traders should strictly control the position.
🚀BTC Short-term Trading signal: Pre-condition: price keep support by $7400~$7450 within today.
long: open around 7450~7550
close 1: 7650
close 2: 7700
close 3: 7850
stop loss: 7400 Become member of OKEx and enjoy more services : okex.com/join?channelFlag=ACECO2501021
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