I am extremely bullish long term on bitcoin, as most people are. As for this recent dip, as you can see it just bounced off support and is forming a wedge.
In my analysis, bitcoin will go slightly lower just to form a proper wedge, and then break out to the upside to at least meet the 4 hr 200 MA. This could then lead to an ath in the near future but time will tell what it will do in the 40-50k range and I will provide an update. I do not see bitcoin going any lower than 30k.
Let me know what y'all think!
In my analysis, bitcoin will go slightly lower just to form a proper wedge, and then break out to the upside to at least meet the 4 hr 200 MA. This could then lead to an ath in the near future but time will tell what it will do in the 40-50k range and I will provide an update. I do not see bitcoin going any lower than 30k.
Let me know what y'all think!
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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.