BTCUSD The Good The Bad The Ugly
Updated
BTCUSD seems to be an unstoppable force of nature! But as we all know, what goes up must come down....it's just impossible to know WHEN!
The above chart is my take on a possible deep correction after hitting the 15k psychological level (not that it stopped at 10k so it might not even stop at 15!). If it does correct, now, at 15k, at 20k, wherever, it will be a deep and drastic correction to previous base levels (at the moment around 8k), providing excellent buying opportunities in the accumulation zone before beginning the next (I believe inevitable) move up.
Stay tuned!
The above chart is my take on a possible deep correction after hitting the 15k psychological level (not that it stopped at 10k so it might not even stop at 15!). If it does correct, now, at 15k, at 20k, wherever, it will be a deep and drastic correction to previous base levels (at the moment around 8k), providing excellent buying opportunities in the accumulation zone before beginning the next (I believe inevitable) move up.
Stay tuned!
Trade active
Adjusted the price/date ranges to match the ATH reached.
With the introduction of futures contracts tomorrow and the possibility of S.Korea following in China's footsteps to place a ban on exchanges, there will be some interesting price action in BTC / fiat and altcoin markets.
After the recent ATHs we can see BTC is in a period of consolidation. Whether it will break up or down from this symmetrical triangle formation remains to be seen and it's anyone's guess at the moment!
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.