Bitcoin Long Term Price Projection (Technical Perspective)
Weekly Perspective
(2 August 2021) Price has break and closed above $41,000 and retest the same level with a strong bullish bounce and hit all time high again on (18 October 2021). Now we are currently on weekly retracement, price retrace from $65,000 and retest the $41,000 where a level of interest for buyer can be seen on the past few months ago. A double bottom is forming, to confirm the validation of chart pattern we need to see a changing in structure from bearish to bullish on lower timeframe which can be observe on daily timeframe. If price fail to hold $41,000 I expected a further down in price movement to the $30,500 and bounce back to $65,000.
(2 August 2021) Price has break and closed above $41,000 and retest the same level with a strong bullish bounce and hit all time high again on (18 October 2021). Now we are currently on weekly retracement, price retrace from $65,000 and retest the $41,000 where a level of interest for buyer can be seen on the past few months ago. A double bottom is forming, to confirm the validation of chart pattern we need to see a changing in structure from bearish to bullish on lower timeframe which can be observe on daily timeframe. If price fail to hold $41,000 I expected a further down in price movement to the $30,500 and bounce back to $65,000.
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