BTC update: Weekly close is crucial!
BTC has dropped below a very strong support zone. In the past, it has wicked below but always closed above this zone. The last time it didn't, is when price fell to the sub 4k territory. The weekly closes at 5pm PST, roughly 3 1/2 hours from now. Having two long rejection wicks on the weekly, as well as closing below support, will likely send price further downward. If this is the case, I am still overall bullish as we approach the trending pattern lines as well. We may see an opportunity soon to pick up more BTC in the mid to low 
4K range. KEEP IN MIND: The black vertical line is the estimated date of the 2020 BTC halving. I'm sticking with the classic method: Buy the hype, sell the news! I have a gut feeling that the halving will be uneventful and people will sell off on or right after the halving. My ultimate goal is to pick up a health amount of BTC in the sub 5k range and sell it just before 10k. We'll see!
4K range. KEEP IN MIND: The black vertical line is the estimated date of the 2020 BTC halving. I'm sticking with the classic method: Buy the hype, sell the news! I have a gut feeling that the halving will be uneventful and people will sell off on or right after the halving. My ultimate goal is to pick up a health amount of BTC in the sub 5k range and sell it just before 10k. We'll see!
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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.