Bitcoin Potential Bounce at 27400 then falling to 20-22K

2023년 8월 21일

My previous posts were showing the scenarios of a fall to 29500 then 28500 then 25000. So we are on the 25K side, and I told we will need a further analysis to know what to expect. so here is a speculative first one:

From my humble perspective, I'd say bears took the command since last week, I can see that from my weekly chart finally. So I doubt we will see price reaching or ranging around 30K yet.

Much like a diver who propels skyward before their exhilarating plunge, Bitcoin's trajectory seems to echo this pattern. Anticipate an upward bounce toward the resistance level of 27,400, akin to the diver's swift climb.

After reaching 27,400, we may see a fall to a range of 20,000 to 22,000.

Time will tell.
Don't take my work for granted, do your own analysis, analyze again then take your own decision to trade or not.

PS: I've been deceived by the way bears refrained the price to climb above 32K, since in my early post a scenario to climb to 49K was possible, but the charts is saying something different now. So the overall sentiment is more and more BEARISH for me.