Bitcoin – when is it insanely long?

Hi all!

Last time I analyzed Bitcoin, I was confident that there would be a crazy long this week, but again the market wants to give us this opportunity later. This is not a big problem because I gave you 2 altcoins – ADA and DOT, which already gave us this signal. I already bought it and it’s nice that Bitcoin is going to pump up a little – this gives the opportunity for these altcoins to realize their potential. Let’s move on to analyzing Bitcoin.

Let’s look at the 1D timeframe chart of the BTCUSDT exchange on the WhiteBit exchange. The most significant thing on the chart is the demand zone or support level. I think even the blind have already noticed this. Moreover, I believe that almost every trader thought that this zone should be broken because Bitcoin has many tests. Here’s the first trap. The market should give traders the illusion of an upward rebound. The point where the crowd thinks BTC is going to rise is when it breaks out of a significant high. This high is now located at $20,500 near the central October reversal range.

In addition, the countertrend line is also placed next to the current prices. If a breakout occurs, traders will execute their long trades because it will be the “breakout of the decade!” In my opinion, the price will reach $20,800 to keep people optimistic, and after that we will see our final dump. During this time, the altcoins that were already giving us crazy long signals managed not to even set a new low and our current position would be maintained.

Best regards, Ivan