🅱️ Is Bitcoin Ready For $20K?

2023년 10월 27일

Why is it good that Bitcoin has been holding two days straight above 33,000 after hitting the highest price in more than 535 days?

Bitcoin's corrections are unforgiving, when prices drop they tend to drop strong, right away...
There is no waiting around, no sitting around, no sideways actions nor higher lows but straight down, lower and lower and lower... Well, not lately because Bitcoin has been growing now for so long.

Is Bitcoin Ready For 20K?

It is not bearish to see prices holding the way they are now.
Yesterday is the first session red/down/bearish after 7 consecutive days green.

The RSI hitting way too strong is considered overbought;
Overbought means that prices are going lower right?
But how far down can it really go?

Look at the two days after October 16, that is 17 and 18 October, a little consolidation before additional growth.

The law of alternation would call for a longer period of consolidation now, coupled with a small retrace, down small before more up.

Are we going lower?

Is Bitcoin Ready For 20K?

Let's say that it is impossible to break below, a drop, to 25,000 in the short-term.
The 27,000 to 28,000 levels are super strong mid-term.

The bias is not down, we surely see a bright sky with a full moon in the coming days.

The moon is still a bit far we have more to climb before the top.

Bitcoin Is NOT Ready For 20K!

Makes sense?

Leave a comment if you understand... & Boost!

Namaste.