Bitcoin / TetherUpdated BTC - Doom or Boom?
So far, BTC is tracing perfectly along option #1. However, we have just touched the new trend line. If that doesn't hold, price will continue to correct in line with the downward channel. This means that price will fall just below 8k to approximately 7.8k.
This is where things get very interesting. From here, we have two options: significant advance upwards (likely to breakout of downward channel) or significant fall down to approximately 5.6k. So, I am very curious to see how this plays out. Stay tuned for more action.
Note: I will post a larger view so you all can see the long-term optics. While BTC may be in for some temporary pain, it will be just that: temporary. Long term, BTC shows no signs of weakness and is supported by a bullish curve.
-MV
Note
Daily view of BTC.
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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.