Big Picture
Strictly Technically speaking Bitcoin looks very weak
While Bitcoin will try to stage a bounce, any attempt to break & close above the Trendline will most likely fail in June
Bears will target downside Zones:
40% Probability to hold 5400 as a Strong Support
80% Probability to hold 4500 +/- 10% as Very Strong Support
We recommend BUY Bitcoin around 5400 with add more on dips below 5000 for a swing Trade with Target as 50 Week Moving Average which is around 7900 & moving up every week
Strictly Technically speaking Bitcoin looks very weak
While Bitcoin will try to stage a bounce, any attempt to break & close above the Trendline will most likely fail in June
Bears will target downside Zones:
40% Probability to hold 5400 as a Strong Support
80% Probability to hold 4500 +/- 10% as Very Strong Support
We recommend BUY Bitcoin around 5400 with add more on dips below 5000 for a swing Trade with Target as 50 Week Moving Average which is around 7900 & moving up every week
Twitter @tradingroomapp
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.
Twitter @tradingroomapp
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.