Bitcoin Update:
The Bull Scenario
Bulls have been late on schedule lately and the reason I expected the pump was because if the bulls didnt show up at the 7080 stop it would be a heavy Bear Run all the way down.
But bulls managed to hold the bounce off and now we are at 7422.
Seems like if we hold around the current price point for a while we shall see a test of 7500....AND things get interesting..if we break it with good volume we will have the (7630-7690) range, and this move can be a sharp one...if we hold the price here we can see a further move to (7850-7950)....but the way upto 8250 from here is like a road with nails all over it....very hard zone for bulls....confluence and frequent resistances....if we get past here we can have a bullish smile :)
The Bear Scenario
Here we have the heavy and fat bears(heavy bearish all over the web)...so here is what can happen:-
if we dont hold the current level we will most likely see the level of 7341...again the volume kicks in...if its a trigger flush move with big volume we see 7223ish range ....if we dont stop here and in case we break the 7100 it has a pretty high chance to make it all red again with next target ranges being 6831-->6194
Crucial Points to Consider:-
We had the short squeeze last time with a 1k pump...now the chances and the map seems good for a long squeeze....lots of money for the whales to be made but what makes it dangerous is...if the long squeeze happens we can break the earlier 6k support and then it will be a free fall....THIS IS THE WORST CASE
but i need to make u all smart and ready :)
It is important we don't break the 6500 mark — as it could lead to Ice Age for Bitcoin that could last for two years. Everything else is tradeable.
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