BTC will likely come back to 5k area
Actualizado
the picture is clear, we've had almost the same up move and patterns like in April (6.4k-9.9k).
unless we already go above the daily MA 200 we should find support between 7.8-8k and going close to 8.6k, after this I personally expect btc to go to 5k area and since we have various news about etfs In the upcoming months I still think manipulation will not be over yet, thats why I had said in the previous post we can also hit 11.7k or even higher targets like 13k I don't expect higher than this though. anyways if this up move ends up at 8.6-9.2k with a strong bearish div on daily like there was at 9.9k, we'll very likely go back to 5k area and I would consider a nice short opportunity.
dont get overconfident about etfs and new bullrun already.
unless we already go above the daily MA 200 we should find support between 7.8-8k and going close to 8.6k, after this I personally expect btc to go to 5k area and since we have various news about etfs In the upcoming months I still think manipulation will not be over yet, thats why I had said in the previous post we can also hit 11.7k or even higher targets like 13k I don't expect higher than this though. anyways if this up move ends up at 8.6-9.2k with a strong bearish div on daily like there was at 9.9k, we'll very likely go back to 5k area and I would consider a nice short opportunity.
dont get overconfident about etfs and new bullrun already.
Nota
watch out for a double top (8.4-8.5k) over the next few hours/daysNota
Nota
daily ma 200 acted as resistance and hidden bearish div should indicate a downtrend continuation till 5.4k before going to 11.7k or a bit higher targets.
of course it could also go from here if it breaks the previous top at 8.5k anyways the first scenario is more likely.
that said before 5.4k I expect it will test the neckline as resistance (7.8/7.9k) of this double top (not really perfect) over the next days.
Nota
we can see a hidden bullish divergence formed and after a lot of red days I expect a correction upwards (7.4k) before going down again since we have a bigger hidden bearish div.
anyways I still think we can hit 11k+ as long as we don't go below 5k. I'll post another view later
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