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BTC to $28k next? Here's what needs to happen.Shorter term update (still think that BTC will go higher in the mid term but the path of how we get there in my mind has changed): There's a lot of people assuming that we're going to retest the lows right now. That combined with the chart, leads me to believe that we'll see higher prices from here, before (the possibility) of going lower. If you look at the chart, it looks like the rising wedge that we just broke down from has now formed into a broadening wedge. If that is the case, then I can see testing the top of the wedge at $28k, before we go lower. The bottom of the wedge needs to hold for this idea to be valid. I'll have to reassess what happens after $28k should that target be hit. Let's see what happens in the coming weeks.
COINBASE:BTCUSDLong
by benjihyam
10
Two buy opportunities on this chart for LENDBTC Mid-Term Forecast Trading suggestion: ". There is a possibility of temporary retracement to suggested support line (0.0000577). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . LENDBTC is in a uptrend and the continuation of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 57. Take Profits: TP1= @ 0.0000699 TP2= @ 0.0000785 TP3= @ 0.0000874 TP4= @ 0.0000996 TP5= @ 0.0001150 SL= Break below S2 ----------------------------------------------------------------------------------------------------------- Short-Term Forecast Trading suggestion: ". There is a possibility of temporary retracement to suggested support line (0.0000628). . if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . LENDBTC is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 58. Take Profits: TP1= @ 0.0000699 TP2= @ 0.0000785 TP3= @ 0.0000874 TP4= @ 0.0000996 TP5= @ 0.0001150 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
LLong
by ForecastCity
8
Bitcoin's downtrend is losing steam. Where will it reverse?Bitcoin recently crash out of the triangle it had been forming for months. The result was a relatively violent, however short-lived, downtrend. The trend phase had a very negative gradient which has since flattened out as shown by the red curved lines. This shows that the move is losing angular momentum. In fact, it's entering a consolidation phase. The likely outcome from here is that the market will establish a low at some strong support before reversing. It may not reverse back into a full uptrend, but will likely go higher from here. Alternatively, the move to the downside could resume given a boost in bear commitment. The bullish divergence on the RSI and reduction in momentum mean we're looking out for a potential support to create a temporary bottom. Not far from the current price is the 3.618 Fibonacci extension level derived from the range from point A to point B. This falls around the psychologically significant $7500 level. This is the most interesting level to me at the moment in the short-term, and traders should be watching for the patterns which might form here.
COINBASE:BTCUSDLong
by Quantium_Research