BTCUSD complex structure is calling for more weakness towards 28-30000 zone as long as the instrument is not able to break above 49000. We can see constant ongoing rejection from this level as the #Bitcoin is in the long-term triangle and downside channel. There is so called bullish mantra that Bitcoin is digital gold which is so far from the truth. Bitcoin is attached to USD and stock Indices with correlation and that is something that has not been changed in recent years. Expectations that it will hit 100k sound like a science fiction. Bitcoin has its on values but not as much as the crypto populist are giving. As traders look lower as long as it is below 49-50000.
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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.