Several overlapping candles and now a strong monthly covering candle have increased the probability of starting an uptrend in Bitcoin in the medium term. The only obstacle to the upside is the supply level of the current range up to 25000. This obstacle may cause a price correction to the levels of 19-20. or deeper levels of 17 to 18.5.
Note
See the XAUUSD analysis and wait for the update of BITCOIN analysis.
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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.