BitcoinLong
BTC forecast for the week(s)
Updated
I've gone ahead and added the text onto the chart if you'd like to give that a read; but basically:
>> granted we hold support here at 35.7k, we will see a continued move upward, and we may even see a return to a long term bull market. However there are some key points of resistance ahead and if those prove too dense for buyers, or if external market conditions change dramatically, etc., then we may see a return to much lower levels, especially if we break the trendline. I hope the chart is useful or just gives a sounding board for your own ideas. Trade safe!
>> granted we hold support here at 35.7k, we will see a continued move upward, and we may even see a return to a long term bull market. However there are some key points of resistance ahead and if those prove too dense for buyers, or if external market conditions change dramatically, etc., then we may see a return to much lower levels, especially if we break the trendline. I hope the chart is useful or just gives a sounding board for your own ideas. Trade safe!
Note
Stubborn so I'm waiting on the daily candle to close before redrawing the chart. ;) I entered 1 long position at the 34.1k bounce, going to re-evaluate soon.Note
just an update: this has broken down from the temporary uptrend (obviously ;) ) it's *currently* respecting the strong trendline from the base as seen in the green line that it's wicking on. IF and or when it breaks this (which I'm guessing it will, call it intuition) we will return to the abyss *spooky sounds* haha. I'm going to throw a chart together right now, I should be studying, but I need the charting practice too ;) This is a good time to be trading those ranges before we drop. just don't get caught in a long, and know how to read those smaller TF dojis, trust your gut and get out if it smells fishy, and for all that's holy, set good SLs, but don't leave profit on the table, it's a fine balance.
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