BTC - Sideways, Then Up Towards 64k Area?
Updated
If support area (box) holds, BTC will likely slowly consolidate sideways until the Bollinger Band contracts (not shown here), before another explosive move to the upside (my fundamental bullish bias for BTC).
I was off with my timing on my previous trade to go short, however, the price did break UP out of a potentially bearish pattern, before rocketing to the downside days later.
On this chart we see a falling wedge, and an obvious trend channel on the daily which so far seems to be holding.
If the support fails we could see downwards pressure towards the support levels below ($38,500, 37,500, $32,000), which would present obvious buying opportunities.
Any lower than this and we risk creating bearish marker structure and heading into a bear market (likely a short one).
I was off with my timing on my previous trade to go short, however, the price did break UP out of a potentially bearish pattern, before rocketing to the downside days later.
On this chart we see a falling wedge, and an obvious trend channel on the daily which so far seems to be holding.
If the support fails we could see downwards pressure towards the support levels below ($38,500, 37,500, $32,000), which would present obvious buying opportunities.
Any lower than this and we risk creating bearish marker structure and heading into a bear market (likely a short one).
Note
Still going as predicted...Note
62k reached...64, 66, 68 all obvious price targets.. 68-70 would possible be high risk of reversal/correcting
Note
Still going as predictedNote
BTC bullish momentum likely over coming weeks.
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*Only Risk What You Can Afford To Lose*
*Just Ideas, Not Investment Advice*
*Trade At Your Own Risk*
*Only Risk What You Can Afford To Lose*
*Just Ideas, Not Investment Advice*
*Trade At Your Own Risk*
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