BITCOIN (BTCUSD): 2 Scenarios Explained ₿
Updated
Many of you asked me to share my thoughts about Bitcoin.
Even though 99% of traders on TradingView post long-term bullish forecasts on BTC,
from a current perspective, the situation is very vague.
If you want to buy bitcoin, you must definitely consider a major falling trend line that the market is respecting since April.
I would recommend waiting for its bullish breakout first before you buy.
At the same time, setting a new low in May, Bitcoin started to recover.
The price formed a rising wedge pattern and I guess you see how bearish this pattern looks.
Touch of the above-mentioned trend line may trigger a strong bearish reaction.
Bearish breakout of the support of the wedge may trigger a bearish continuation.
In my view, the safest option is to wait for a breakout first now
and only then follow the market.
What are your thoughts?
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Comment
Check my new idea on GBPUSD: 
✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.