🅱️ Bitcoin | Short-Term: Safe Above $25,000 ($15K Not Possible)
Updated
Short-term, Bitcoin (BTCUSDT) is safe above $25,000.
Recently we saw a shakeout move and this is confirmed by the quick recovery that followed.
There is another attempt at selling pressure yet Bitcoin continues trading within a higher low.
✔️ As long as Bitcoin remains trading above $25,000, the short-term perspective remains bullish.
✔️ If it goes below this level then the bullish bias short-term is lost.
✔️ Mid-term Bitcoin stays 100% or more bullish above $22,222 / $23,000.
✔️ Finally, Bitcoin stays bullish long-term above $20,000. These are the main levels to look for.
If $20,000 fails, we can consider the bearish perspective.
Any trading above these levels can be considered short-term noise.
Patience is key!
=============
This is not financial advice.
I am sharing my opinion and views of the charts/markets.
All the information is shared here for learning and/or entertainment purposes only.
=============
Thanks a lot for your support.
Namaste.
Recently we saw a shakeout move and this is confirmed by the quick recovery that followed.
There is another attempt at selling pressure yet Bitcoin continues trading within a higher low.
✔️ As long as Bitcoin remains trading above $25,000, the short-term perspective remains bullish.
✔️ If it goes below this level then the bullish bias short-term is lost.
✔️ Mid-term Bitcoin stays 100% or more bullish above $22,222 / $23,000.
✔️ Finally, Bitcoin stays bullish long-term above $20,000. These are the main levels to look for.
If $20,000 fails, we can consider the bearish perspective.
Any trading above these levels can be considered short-term noise.
Patience is key!
=============
This is not financial advice.
I am sharing my opinion and views of the charts/markets.
All the information is shared here for learning and/or entertainment purposes only.
=============
Thanks a lot for your support.
Namaste.
Note
Some people might still have doubts about the current situation with Bitcoin but this might help to clear them.
We have an "upthrust", which is the initial move follow by a "corrective pattern".
The correction is a move counter to the initial move or trend.
From mid-March through mid-April we have another "upthrust", clearly seen on the chart followed by another correction.
The corrective patterns are quite clear.
We do not have a downward impulse nor new lows, rather a correction of the upthrust.
After the correction we should see a resumption of the initial move... Does that makes sense?
We will see Bitcoin at $35,000 is August 2023 and possibly $38,000 November 2023.
Namaste.
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