Current Bitcoin Thoughts
Well,
The previous week, bitcoin dropped to $6500 breaking down the weekly main support at $7400-$7500.
This is exactly what I meant in my previous thread.
Bitcoin showed a quick bounce just after losing weekly support and currently trading at $7282 (atm I am writing this thread)
It is common for crypto market to make its highs early on after weekly candle close to confirm the broken support as resistance.
I still have strong arguments for the bearish retest here, however, its a nice bounce but I am not convinced yet for a trend reversal.
The only scenario that can change my mind is the current weekly close above $7500 that can make me to think little bit bullish but we have strong resistances above as well at $8000, $8800, $9500.
If you have any query regarding this, feel free to add me on IM
Well, the price reached $7800 today, lets see if it can close weekly candle above $7500, that divert me to think of any bullish bias
bitcoin halving will occur soon in a couple of months
just hold bitcoin.. its only going to go up as people become more educated upon it
Hold what you have and buy more now. You'll thank me later next year .