It is worth pointing out that BTC has formed a rising wedge and is at the trend line resistance of a descending channel. As such, a correction to between 38k-44k (I prefer 41k at the 50% fib retracement) is rather likely. However I am sceptical of an ultra-bearish scenario, given the fundamentals and broader market sentiment (El Salvador trying to recognise BTC as legal tender, institutional involvement, superior utility of altcoins, mass adoption, etc.).
I consider anything below 28k ultra-bearish, as this will open the doors to 25k, 20k and 18k.
I consider anything below 28k ultra-bearish, as this will open the doors to 25k, 20k and 18k.
Trade closed: target reached
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.