BitcoinUpdated BTC Short, medium, long term
Short term bullish.
RSI in buy zone, long term uptrend line is touched. Short term downtrend tunnel has breached through ceiling. $6850 is short term sell, then buy $6500. If it breaks $6900, $7300 is next ceiling. Then $7800, $8300, $8800, $9300, $10000.. Could go on.. At these levels we could sell and and rebuy a few % lower.. But for now, short term $6800 will be our focus.
Medium term 65% bullish 35% bearish
Bitcoin should break $20,000, new resistance depends on global markets. If they keep crashing, sky is the limit. However, in reality, BTC could go back to 1rst official pump, which is around $3000 level..
Long term bullish, very long term bearish
SHTF. Crypto goes wild. However some coins will prove they are better and they might overtake BTC.
RSI in buy zone, long term uptrend line is touched. Short term downtrend tunnel has breached through ceiling. $6850 is short term sell, then buy $6500. If it breaks $6900, $7300 is next ceiling. Then $7800, $8300, $8800, $9300, $10000.. Could go on.. At these levels we could sell and and rebuy a few % lower.. But for now, short term $6800 will be our focus.
Medium term 65% bullish 35% bearish
Bitcoin should break $20,000, new resistance depends on global markets. If they keep crashing, sky is the limit. However, in reality, BTC could go back to 1rst official pump, which is around $3000 level..
Long term bullish, very long term bearish
SHTF. Crypto goes wild. However some coins will prove they are better and they might overtake BTC.
Note
Keep a close eye on the TA, volume, macd, rsi, candlestick patterns etc at $6800. If it indicates down and doesn't break $6900, look at $6000 - $6100 as support and $5800 as last lifeline before 3k - $4 zone. It is normal if BTC hits these targets, but it could be brief. Probably a day at these zones and then fast recovery to 5K - 6K again and beyond..Note
RSI should have enough power left for a bounce above $6500. It will lose power at $6800. Shorts going down, longs increasing, however, volume is down a bit, but still in bullish trend.Note
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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.