Thoughts on Bitcoin's likely direction (down then up)
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Looking at Bitcoin currently, we can see a local ascending broadening wedge after that recent downswing. This is pointing to some further downside to complete a likely falling wedge on the 12hr chart. Likely scenario we see play out is downside to test ~43.5k then start a rally around Christmas'-NewYears towards 68k to try and set a new ATH
See previous Ideas posted on Bitcoin for further thoughts & breakdowns on BTC & it's future PA.
Likely 10% down followed by a slow 50+% move, will update as PA is available.
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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.