Long
Bitcoin V-shaped reversal, bulls or retest previous highs
Bitcoin continued to decline on Friday and completed the bottoming trend, and the bulls began to counterattack in the early morning of Monday. It remains to be seen whether the adjustment here is over or a complex shock range will be formed. Intraday bulls still have room to rise. Bitcoin operation recommends buying at 21900, risk control at 21300, and target at 23100~23900.
Bitcoin bullishness is based on the following:
1. Bitcoin bottomed out through weekend shocks and started to rise in the early morning of Monday. The current big positive line shows that the bulls have plenty of momentum.
2. According to my personal analysis, the current retracement of wave B has reached the 50%~61.8% area of the golden section, and there has been a turning point. It remains to be seen whether it will end directly in one wave or form three waves of wide shocks.
3. The upper pressure is 23100~23900, and the lower support is 21700~21200.
Traders, if you like this idea or have your own opinion about it, please write in the comments. I will be happy 👩💻
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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.