Who will win this? Bulls or Bears?
Hello, dear TradingView members.
This is a Bitcoin idea.
We have been consolidating in this price area for a long time now. And the market is not showing the strength to go back up.
But now it's about time to find out which way the market is headed.
The market had extreme resistance, which caused long-term resistance in 2017, the same level we currently use as support.
So it's an extreme support level. That's why we've stuck on it for months now.
You guys remember the 19K-20K Bitcoin, right?
This 19K-20K level is undoubtedly our most substantial support on the way down.
This support is also backed by the Fib retracement and the Bollinger Bands.
As strong as this level is, once the price falls below it, it'll be almost impossible to break it back up again. It might take years for that to happen.
That's why we can point out that this is one of Bitcoin's most essential price areas.
The following support is around the 13K levels, which is also vital; I will discuss it once we get there.
Now let's see your ideas. Let's have a discussion.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
This is a Bitcoin idea.
We have been consolidating in this price area for a long time now. And the market is not showing the strength to go back up.
But now it's about time to find out which way the market is headed.
The market had extreme resistance, which caused long-term resistance in 2017, the same level we currently use as support.
So it's an extreme support level. That's why we've stuck on it for months now.
You guys remember the 19K-20K Bitcoin, right?
This 19K-20K level is undoubtedly our most substantial support on the way down.
This support is also backed by the Fib retracement and the Bollinger Bands.
As strong as this level is, once the price falls below it, it'll be almost impossible to break it back up again. It might take years for that to happen.
That's why we can point out that this is one of Bitcoin's most essential price areas.
The following support is around the 13K levels, which is also vital; I will discuss it once we get there.
Now let's see your ideas. Let's have a discussion.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
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