The chart is clear. Bitcoin has been training inside a channel trending down (with a small deviation in November) and now it's the fourth time it has retested the bottom of it.
I would not be surprised to see 29-32k acting as a consolidation range for the next impulse move.
Fear is at all time highs, while everyone is waiting to buy back at 24k.
We could not get there soon because the capitulation in May already showed where the demand area sits.
And Bitcoin never broke below this level ever since.
Prepare for the impulse!
40k is next.
I would not be surprised to see 29-32k acting as a consolidation range for the next impulse move.
Fear is at all time highs, while everyone is waiting to buy back at 24k.
We could not get there soon because the capitulation in May already showed where the demand area sits.
And Bitcoin never broke below this level ever since.
Prepare for the impulse!
40k is next.
King
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King
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.