BTCUSD -
Updated
Before we go onto our long bull run with BTC, we will see a bear move until support zones of 31000 to below 28000.
This is worst case scenario. I good place to buy will be at 31000 and keep for the next year. Keep in mind it can drop lower. If you have patience wait for a further drop.
Those you loves a short ride, going short on BTC will be a wonderful opportunity for you. For all the buyers I would wait to buy between zones 31000 to 28000. Stop below previous lows on the Daily charts.
If it breaks the bullish channel, at roughly 27750 and the channel become resistance then we will see a continuous bearish trend.
This is worst case scenario. I good place to buy will be at 31000 and keep for the next year. Keep in mind it can drop lower. If you have patience wait for a further drop.
Those you loves a short ride, going short on BTC will be a wonderful opportunity for you. For all the buyers I would wait to buy between zones 31000 to 28000. Stop below previous lows on the Daily charts.
If it breaks the bullish channel, at roughly 27750 and the channel become resistance then we will see a continuous bearish trend.
Note
We still believe it to be a very strong bullish trend; however, we will only know this once we break above the 36000.00 resistance levels and when it becomes a test of support. BTCUSD could rally here for a while. To confirm if a support will form around the 36000.00 level, it should test at least three times.We still hold the opinion that it will drop to, at worst, 29000.00 before the big bullish move. To enter a long at the current level of 35639.13 (at the time of this comment) is suicidal.
I will wait for a favourable buy signal.
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