Bitcoin is at this moment by breakdown trend since the new chart data.
Logically and psychological thinking is that the most want makes at last 100% on the long term.
The most know ATH (all-time high) was above around 69K.
From the point of 30K, could be an option to get a 100% increase, but then you are at ATH, so for this reason also there will be more interest in BTC when it becomes on lower price action - this also for whales.
BTC could go to 25K and even below this range, so to get new volume into BTC.
Same time there could happen new things that this price action can change.
For now, BTC is into a breakdown - and in the future, we will follow it to see if these are changes to a new uptrend, or if it will keep going into a breakdown trend.
The 40 min before chart where it did give signals of breakdown at 30k
Logically and psychological thinking is that the most want makes at last 100% on the long term.
The most know ATH (all-time high) was above around 69K.
From the point of 30K, could be an option to get a 100% increase, but then you are at ATH, so for this reason also there will be more interest in BTC when it becomes on lower price action - this also for whales.
BTC could go to 25K and even below this range, so to get new volume into BTC.
Same time there could happen new things that this price action can change.
For now, BTC is into a breakdown - and in the future, we will follow it to see if these are changes to a new uptrend, or if it will keep going into a breakdown trend.
The 40 min before chart where it did give signals of breakdown at 30k
Note
it means not it should happen, but it's a possible long-term target.Note
There is still no confirmation for the breakdown trend - the above chart is only expecting a trend if we stay a long time 29K. its BTC and with time trend change - so on this reason follow the last trend
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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.