Last time the blind guy calculated the fate, he's been right about half of it so far,
let's leave the rest to time!
let's leave the rest to time!
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九 头 鸟
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Hey folks, I'm the Blind Trader, and here's my take on Bitcoin's fate,
Reason: We broke the trend line, plunging straight down by 10k, with no bounce in between, creating a vacuum zone. The market is oversold and we're seeing a corrective rebound, testing that broken trend line.
After hitting a new low, we typically expect panic selling to accelerate the drop, but instead, we've been grinding along and starting to bounce back. Coupled with the major support from my last post, it's the best scenario for a rebound and repair right here.
Corresponding to the daily candles, we're in the fifth leg of the drop. We can see it playing out as an ABC three-part move. For now, let's watch for the rebound. After this correction, if we dip again without hitting a new low, we can confirm a high probability of a bottom forming (the fifth leg may be complete, theoretically, a new low could be avoided).
If we can reclaim that trend line, I believe the market could be reversing.
Until we break out, it's all just my subjective musings!
P.S.: I still think Bitcoin has a high probability of hitting a bottom. As for whether it goes to 3k or 5k, that might be a topic for another time (currently stuck in long positions).
(This is just my personal view, for reference only, not investment advice.)
Reason: We broke the trend line, plunging straight down by 10k, with no bounce in between, creating a vacuum zone. The market is oversold and we're seeing a corrective rebound, testing that broken trend line.
After hitting a new low, we typically expect panic selling to accelerate the drop, but instead, we've been grinding along and starting to bounce back. Coupled with the major support from my last post, it's the best scenario for a rebound and repair right here.
Corresponding to the daily candles, we're in the fifth leg of the drop. We can see it playing out as an ABC three-part move. For now, let's watch for the rebound. After this correction, if we dip again without hitting a new low, we can confirm a high probability of a bottom forming (the fifth leg may be complete, theoretically, a new low could be avoided).
If we can reclaim that trend line, I believe the market could be reversing.
Until we break out, it's all just my subjective musings!
P.S.: I still think Bitcoin has a high probability of hitting a bottom. As for whether it goes to 3k or 5k, that might be a topic for another time (currently stuck in long positions).
(This is just my personal view, for reference only, not investment advice.)
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.