Bitcoin "still in Pullback" Idea
Updated
As the chart shows, i think BTC has broken out a long bearish trendline and it's normal for it to have a long trading range after it, Or, a long pullback in this scenario.
So, I see bitcoin in bullish trend line for the coming year (2023), but it needs to touch back the trend line she just broke and then we are ready to jump!
I think there are pretty strong supports for it to touch and then return, the strongest is 10k and if she wants to reaction to this price, she might see 9500 or 9000 price tag and then begin a bullish trend line. But start of the bullish movement can happen at any given time (even now!)
So, I see bitcoin in bullish trend line for the coming year (2023), but it needs to touch back the trend line she just broke and then we are ready to jump!
I think there are pretty strong supports for it to touch and then return, the strongest is 10k and if she wants to reaction to this price, she might see 9500 or 9000 price tag and then begin a bullish trend line. But start of the bullish movement can happen at any given time (even now!)
Note
Right now, Bitcoin has made a triangle. Because the first leg was bearish, there is a higher chance (60 or 70) that price creates another bearish leg excactly the same as the first leg and meets the 11500 price tag and after about 1 to 4 weeks of Trading range, starts to go up.There is a lower chance (40 or 30) that price breaks this triangle pattern and starts to rise up and see 18k and after that 21k price tag.
Right now we Know For Sure that price is compressed and when it breaks the compression, we will see good movement.
Here's the Image to my idea:
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