BTCUSD still on its way down.
We aren't buying any BTC at this time. Currently BTC has failed to continue up as we expected and is holding around the 10k zone. We have developed a double top on daily with a solid break down (A) in. We are targeting 8k zone for our re-entry should we pull back to this zone. Personally I see a 50% pullback from the most recent high if not more. BTCUSD has little usage and really is just a store of value for the digital asset world. The more the digital asset space grows throughout regulation, the more we will see BTCUSD grow back to 20k. Until then I see nothing but development and random manipulated price movement. BTC is too expensive still and has to show that 3200 zone was a REAL floor. I see a future with BTC as its too big to fail now and cost a lot of money to keep running. It only makes sense to see BTC continue to grow as long as the network is alive and money is being pumped into it via both mining and investors on all levels. Overall this idea is just a repost of the original technical analysis I did awhile back. Our team is interested in a lower price before we try to jump back in and we see another wave down still.
What do you think BTC is going to do in the coming months? Whats new? Let me know your thoughts on it and the productivity of its growth. Do we have any fundamental backing to support its growth beyond 10k? YOU tell me! Thanks for following as always and please like and share your thoughts below!
What do you think BTC is going to do in the coming months? Whats new? Let me know your thoughts on it and the productivity of its growth. Do we have any fundamental backing to support its growth beyond 10k? YOU tell me! Thanks for following as always and please like and share your thoughts below!
Related publications
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.