RE: RE: Ouch, Bitcoin!
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RE: Ouch, Bitcoin!

RE: Ouch, Bitcoin!

Great analysis @karamyog your chart is quite cool and it shows full detail of price action and the movement that is about to happen is very certain and if we are not careful or if we neglect that fact we may tend to witness the unexpected in the market put this require act if faith to hold because retracement will surely happen but it won't fall deep, maybe scary but it is retracing for a better cause of action in the market.

The price of Bitcoin retraced to $46k now judging by what happened on Tuesday where it fell to 44k and battled throughout Wednesday to get to 46k and that's quite encouraging but all we have to know is the candle forming today will determine or confirm the movement of the market price if it is going to be a long bullish trend or bearish movement.

Why I said so is because we don't have to neglect the convergence and divergence that is occurring or occured in the market which we are not certain on the power or force which price will go down or retrace to. Also checking the same pattern that occured in May ending and July ending we don't know how long this retracement will be but all I'm sure is that it won't fall more than 44k.

All I can say is before September runs out Bitcoin prince level will reach $60k. Maybe the the 100k will happen but I'm not seeing the possibility of that this year or anytime soon unless there will be a great price influence that may occur but I doubt that.

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