Welcome back dear traders and investors!
Unfortunately it is true, our beloved symmetric triangle that works like a technical analysis instrument has been broken, and with it many predictions can be fulfilled, I will gladly be listing them.
I must say that like all of them, yesterday's movements -no matter how much expected they were- (since we had previously anticipated the correction and you can see it in other of my analysis articles) were more catastrophic than calculated, by this I mean that many investments were covered in melancholy with that percentage of decline in the market. I must say that its effects or consequences necessarily have to be coldly studied.
The first thing we need to know to understand the situation is that Bitcoin suffered a price correction, such correction swept away as a negative wave that even affected the Altcoins market on a large scale. However, despite all this process, many traders have spent hours studying every detail to determine what will be next? And it is only fair, we are at a key date and at the most ideal time.
- Theory number 1:
Bitcoin, thanks to the correction, will seek to balance the price by offering investors and caused by the market a new purchase point at 16,000 USD that occurred today and a new point of sale at 20,000 - 22,000 In order for this prospect to be fulfilled, it is necessary for the market to classify the 20,000 as an expectation, but not exactly as a goal, since the goal will be 22k.
- Theory number 2:
After a sharp drop previously anticipated, Bitcoin will have a second fall in another of its economic buffer zones, this being the "new normal" at $14,000 and providing a negative focus at the end of this year, as well as in the closing of the price. The bases that support such a theory are born from the psychology of the market, which at this moment is in a process of uncertainty and astonishment. Another rationale behind such a concept is the stochastic indicator that firmly maintains an overbought and cumulative price dissimilar to objective and material reality.
Regarding the price dissimilar to objective reality, I confirm that perhaps the price of Bitcoin may be being manipulated at this time and one of the ways in which we can verify it is in the indicated stochastic.
Temporality: 1 day
Temporality: 1 week
- Theory number 3:
After this fall, the outlook will be able to expand, the bullish symmetric triangle no longer exists and therefore the trend has been weakened, however, with everything against it, we will make an effort to quote Bitcoin again at $18,000 with a goal set at $20,000 to manage sales and accrued interest, that is, we have a second chance. Such correction of the price/value of the cryptoasset served to create a pullback and it is time to wait for your certainty to discover what else can happen.
We have lost the triangle and the trend, but this does not mean that we have lost the game, there is still a lot at stake, I fear that the psychology of the market will be the one which -in this troubled moment- will possess the absolute truth.
Be extremely careful, without complete certainty of what we are doing, any investment is and will be a synonym of risk, but, without any impudence and being completely transparent, I confirm that I am in a buying position operating like a bull.
Please read:
Each person is free to believe in any of the three theories exposed, they are derivations and contributions of the author without trying to alienate the market or affect the investments of the readers. Congruently each reader is also free to discard everything shared in the article. It is the responsibility of each person to know how to act at a certain time.
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