Here I've Layed Out My Ideas On What Is Likley To Happen Over The Coming Days, This Is A Short Term Perspective.
We Can See A Wedge Forming Outlined In Blue, The Arrows In Black Demonstrate What Is Likely From A Bullish Perspective And The Red Arrows Is What Is Likely To Happen If We Have A Pullback And Possible Support Areas Where We Could See Nice Support.
A Small Pullback Is Most Likely Since BTC Has Been On a Slow Move up And The Volume Hasn't Convinced Me That We Are Going To Keep Going Up From Here.
We Could Go Sideways For A Few Days or Go Up From Here, My Bias Is That The Bulls Are Slightly More In Control At This Point.
I Would Void All These Cases If BTC Was To Break Down Below 6500 But I Favour 65/35% That We Will See Between 8-9K Soon
This Is Not Financial Advice & Just My Opinion Only For Educational Purposes
We Can See A Wedge Forming Outlined In Blue, The Arrows In Black Demonstrate What Is Likely From A Bullish Perspective And The Red Arrows Is What Is Likely To Happen If We Have A Pullback And Possible Support Areas Where We Could See Nice Support.
A Small Pullback Is Most Likely Since BTC Has Been On a Slow Move up And The Volume Hasn't Convinced Me That We Are Going To Keep Going Up From Here.
We Could Go Sideways For A Few Days or Go Up From Here, My Bias Is That The Bulls Are Slightly More In Control At This Point.
I Would Void All These Cases If BTC Was To Break Down Below 6500 But I Favour 65/35% That We Will See Between 8-9K Soon
This Is Not Financial Advice & Just My Opinion Only For Educational Purposes
Note
The Volume Is Not Enough To Convince Me of A Small Dip Then Back Up To The High 7k area, Most Likley We Will Need To Retest The 7k Area, Which Puts More Downwards Pressure on The Price, However I Will Look For A Bounce In That Area And If We Go Oversold On The RSI & If The Volume Lifts Would Consider Entering A Small Sized Trade With Stops Tightly Below.
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.
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.