BTC 1D. The Double top and the Crusade to $7000.

21 окт. 2020 г.

BTC price broke the weekly consolidation upward and buyers reached $12,300. But can we confidently claim that the growth trend from March 2020 will continue?

We present to your attention fractal analysis done by us.
If this scenario works out, it will be the main idea for the next months for us. We will make additions and updates based on it. Therefore, we recommend you subscribe to us and like us in order to receive updates on the idea in time.

Most likely, Bitcoin is now forming a double top pattern.
Possible development of this figure is reflected by red bars. It is very interesting that the fractal workout falls clearly at the level at which we focused our attention a few months ago.

$11,385 - $10,760 - $10,350 are the levels at which buyers will impose a struggle on sellers and where price rebounds are possible.
However, if sellers push the price below $9825, then literally in 1-2 months the real target will be around $7000.

Altcoins are likely to fall stronger than Bitcoin. Therefore, we need to closely monitor the strength of their rebounces and whether they have interest.

Cancellation of this scenario is price fixing above $12,500.