Congratulations Bitcoin holders on a new ATH! Now, what is the next move?
As of right now, the bulls are in control of the Bitcoin price, we are trending in a larger bullish channel. Normally when an ATH is breached the price will move much higher which will get us our potential target of the 70K+ psychological level. We are looking for similar price action from the 19th of June to September 30th with a price action overlay.
After 70K this would give us room for a correction down to the bottom of the channel due to an overbought RSI, possible divergence & the Fear and Green index in extreme greed. We will look for potential buys near the bottom of the channel support then continue even higher.
Conversely, If this channel support breaks this that would put us into bearish territory.
As of right now, the bulls are in control of the Bitcoin price, we are trending in a larger bullish channel. Normally when an ATH is breached the price will move much higher which will get us our potential target of the 70K+ psychological level. We are looking for similar price action from the 19th of June to September 30th with a price action overlay.
After 70K this would give us room for a correction down to the bottom of the channel due to an overbought RSI, possible divergence & the Fear and Green index in extreme greed. We will look for potential buys near the bottom of the channel support then continue even higher.
Conversely, If this channel support breaks this that would put us into bearish territory.
Note
Target has near hit 69K
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.
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.