BTCUSD is forming a bullish flag formation.
Watch for a break of the upper descending trendline.
Upside potential after the break is $6600 to $6800.
Other cryptocurrencies like ETHUSD have been selling off hard.
My sense is that we are getting near a bottom for cryptocurrencies in general. Whether this is a longer-term bottom is not clear yet.
A rally is likely in the second half of September.
Watch for a break of the upper descending trendline.
Upside potential after the break is $6600 to $6800.
Other cryptocurrencies like ETHUSD have been selling off hard.
My sense is that we are getting near a bottom for cryptocurrencies in general. Whether this is a longer-term bottom is not clear yet.
A rally is likely in the second half of September.
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.