Expecting price to retest lower 30s before major bull rally
Last April I published a simple breakdown of the BTC bear market reversal structure:
Given this structure, I'm expecting a local top to form around $49-50k where margin buying pressure is likely to subside, followed by a sharp dip to retest the prior support/resistance in the low to mid 30k range. After that, bulls will be off to the races for a major run.
(1) I wouldn't FOMO buy anything here
(2) Wise swing traders will be short
(3) A flash crash or sharp dip for for BTC could provide one last buying opportunity for alts.
Given this structure, I'm expecting a local top to form around $49-50k where margin buying pressure is likely to subside, followed by a sharp dip to retest the prior support/resistance in the low to mid 30k range. After that, bulls will be off to the races for a major run.
(1) I wouldn't FOMO buy anything here
(2) Wise swing traders will be short
(3) A flash crash or sharp dip for for BTC could provide one last buying opportunity for alts.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.