Bitcoin / BTCUSD is having a 'bloodpath' week in the eyes of most but not to those that know when to zoom out and look at the bigger picture.
And that's BTC being on a purely technical Bull Cycle correction.
In fact the same Channel Down correction has been seen twice already this Cycle after at least a +105.70% rise.
Both times it found support and bounced on the 1week MA50.
Another month of consolidation is possible until contact (or close) is made but overall, the current levels are an excellent long term buy opportunity.
Buy and target 175000 (+105.70%).
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And that's BTC being on a purely technical Bull Cycle correction.
In fact the same Channel Down correction has been seen twice already this Cycle after at least a +105.70% rise.
Both times it found support and bounced on the 1week MA50.
Another month of consolidation is possible until contact (or close) is made but overall, the current levels are an excellent long term buy opportunity.
Buy and target 175000 (+105.70%).
Follow us, like the idea and leave a comment below!!
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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.
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
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.