BITCOIN LONG TERM ANALYSIS
Updated
The last true and visible trend on Bitcoin was bearish. This was the downtrend from 48,000- 17,500, and the trend lasted from March to June 2022. Since then, Bitcoin has been consolidating, almost a year to date. Even after the collapse of FTX and several other exchanges last year, there was little reaction on the actual Bitcoin chart. It will take time for investors to be confident in Bitcoin again, but I am almost certain we will see another bear trend in 2023.
Note
Watch for the double top and sell!Note
Don't be tempted to sell, until Price tags 33000.Note
Price is almost at the selling zone. There is a consolidation on H4. Now we wait for a bull trap ( fakeout) to 32500 before selling.Note
Don't sell Bitcoin just yet. Selling price is about 33000.Note
Patience is a virtue. Patience pays, especially in trading. Wait and sell only at 33000Note
Looks like price is technically 'stuck' at these levels. Since the bearish momentum is lacking, we may see a price spike to previous highs before the bears come in.Note
BTCUSD setting up for a nosedive !Note
200 PIPS STRONG !Note
500 PIPS ON BTC !Note
Its very likely that the weekly candle will close as a shooting star !Note
The weekly candle will close at new lows as the NFP is expected to add more fuel to the fire !Note
New lows on the current downtrend as BTC tags 25500 !Note
25000 is the new low on the BTC downtrend, a break below 24500 will expose BTC to new lows below previous support @ 19500 !Note
Watchout for the FAKEOUT !...The fall of BTC is inevitable !
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.