BitcoinLong
Two Trends Controlling Price of BTC
It seems we have two trends controlling the price of BTC on a short term timeframe. We should see a breakout of the downtrend / confirmation of the upward trend within 1d 4h.
There has been a significant drop in volume as it seems quite a bit of consolidation has happened around 9300 so long under that price if you are a believer in the short term bullish movement.
There is always a risk that there is a bull trap forming and we will see another steep drop off in the coming few weeks, so I'm not more than 50% invested at the moment.
I'm long term bullish onBTC despite what all the influencers are spreading on twitter. I'm projecting a major upswing in volume in the coming 24hr period which should allow us to realize some direction for the week.
Last night's closing candle confirmed a 4th week of positive price movement and allows me to hold a long position with a target of 10k for the week.
BTC on a short term timeframe. We should see a breakout of the downtrend / confirmation of the upward trend within 1d 4h. There has been a significant drop in volume as it seems quite a bit of consolidation has happened around 9300 so long under that price if you are a believer in the short term bullish movement.
There is always a risk that there is a bull trap forming and we will see another steep drop off in the coming few weeks, so I'm not more than 50% invested at the moment.
I'm long term bullish on
BTC despite what all the influencers are spreading on twitter. I'm projecting a major upswing in volume in the coming 24hr period which should allow us to realize some direction for the week. Last night's closing candle confirmed a 4th week of positive price movement and allows me to hold a long position with a target of 10k for the week.
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.