BTC $6790 Target
Hello Traders I have taken some time off tradingview to collect my thoughts on the market. I succesfully called the top at 10k and I shorted from 10k area to the monthly level at 7750. I went long at 7750 and expected that to be the bottom, well i was very wrong. I don't think anyone saw 3k coming that fast. This is not bullish at all. We need to get over 7750 and 9980 for me to even consider a bull run right now. This is the first time I have even considered the fact that we might make new lows in a long time. There is monthly support at 4.1k if we lose that 1ks are in the cards. If that happens it will take awhile. Right now a pump to 6790 seems likely, that is the bottom of the accumulation zone before the move up to the 10ks. I will be going short there. If we break the 5800 weekly level ill look for a long. RIght now I have been sitting on the sidelines seeing how price develops. Unfortunatly this might be the end of Bitcoins Parabolic price action. Btc will not go to zero but it might be a very long time before new highs are made.
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.