I would say 95% of people see BTC doing a pullback to 3k or 4k range in the coming weeks. I think BTC has some surprises for us! After analysing the price action and fractals of XRP, I have discovered interesting similitudes. This makes me believe we could see very bullish price action in the coming weeks where BTC could go as high as 8k. Time will tell :)
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Based on this ibb.co/GJyYNLc
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If BTC can't go above the Weekly 50MA, then the same fractal will occur between the 50WMA and 200WMA
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This would be a similar move to 2011
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This was an ascending triangle, we broke out of it with $5600 as the highest point, failed to go higher and now broke under and we failing so far to get back in the triangle zone. This could lead to further down movement.
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Bitcoin has just tested a major trendline and has done a nice bounce, we need to keep above this trendline
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This is how relevant this trendline was in the past
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So overall this is a very healthy correction which would get us out of that parabolic move, I am hoping now to see a good sideways consolidation for a good two-tree weeks to give alts more room for growth.
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Or it could do this...down to 2k!