Bitcoin: BTC Bulls Have Nothing To Worry About Yet (October 2019)
- 5 years ago
Bitcoin: BTC Bulls Have Nothing To Worry About Yet (October 2019)
Bitcoin (BTC) bulls have nothing to worry about yet. The bullish setup still remains valid and we are still likely to see Bitcoin (BTC) rally towards $9,000 and most likely higher in the weeks ahead. The trend line that we sketched on BTC/USD a long time ago still remains valid. We can see on the daily time frame that this trend line was tested which was followed by downside as we expected. The price did crash harder than I expected. I expected it to find support around the $7,600s area but it ended up falling further. That being said, it was not surprising because we did discuss in the last video how the diamond formation on the chart could be invalidated and broken to the downside and it did happen because it was too obvious and a lot of people were expecting it to play out.
Bitcoin (BTC) bulls have nothing to worry about yet. The bullish setup still remains valid and we are still likely to see Bitcoin (BTC) rally towards $9,000 and most likely higher in the weeks ahead. The trend line that we sketched on BTC/USD a long time ago still remains valid. We can see on the daily time frame that this trend line was tested which was followed by downside as we expected. The price did crash harder than I expected. I expected it to find support around the $7,600s area but it ended up falling further. That being said, it was not surprising because we did discuss in the last video how the diamond formation on the chart could be invalidated and broken to the downside and it did happen because it was too obvious and a lot of people were expecting it to play out.