Bitcoin isn't safe, and its price movements are extreme.
Post
ابو تالية Mahmoud Zkaria
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$BTC Bullish, God willing.
There is heavy selling and pressure in the long term,
but breaking a classic pattern makes me think there could be a short-term rise.
A break above the 83 area could take it to 87, God willing.
If it reaches 87, it could fly to 92, but then we’ll have to see what happens. If it doesn’t pull back, that’s the problem.
Now, if this scenario doesn’t play out, it doesn’t rise, and it keeps falling, then it’ll go back to revisit the 78 low. It’ll probably break below it too, since it bounced from there and already took the liquidity there,
probably down to 75–72.
What’s visible on all the charts is severe overbought conditions. The market needs to cool off, which is also what I’ve been saying from the beginning.
For now, we hope it keeps rising after breaking this pattern and breaks 83,500.
There is heavy selling and pressure in the long term,
but breaking a classic pattern makes me think there could be a short-term rise.
A break above the 83 area could take it to 87, God willing.
If it reaches 87, it could fly to 92, but then we’ll have to see what happens. If it doesn’t pull back, that’s the problem.
Now, if this scenario doesn’t play out, it doesn’t rise, and it keeps falling, then it’ll go back to revisit the 78 low. It’ll probably break below it too, since it bounced from there and already took the liquidity there,
probably down to 75–72.
What’s visible on all the charts is severe overbought conditions. The market needs to cool off, which is also what I’ve been saying from the beginning.
For now, we hope it keeps rising after breaking this pattern and breaks 83,500.