Had so many requests about Bitcoin. That's why I wanted to share the thoughts I already discussed in today's live feed earlier in the morning.
From my POV, Bitcoin's setup is pretty obvious:
BTC traded in a bull flag and broke out ~1 month ago. However, up to now, the outbreak has led to a pump. Conversely, BTC has started to trade in a downtrend. Nevertheless, it has respected the upper boundary of the bull flag up to now.
If Bitcoin continues on this path, it will reach the major support area of ~62k in a few days.
And that's when it gets interesting: Either both support lines hold, and BTC starts a fresh pump — or it is about to get hairy.
Here's why: If BTC breaks below the support at 62k, there's actually no additional support above 52k. Therefore, we might see a decline to the lower 50,000 levels.
From my POV, Bitcoin's setup is pretty obvious:
BTC traded in a bull flag and broke out ~1 month ago. However, up to now, the outbreak has led to a pump. Conversely, BTC has started to trade in a downtrend. Nevertheless, it has respected the upper boundary of the bull flag up to now.If Bitcoin continues on this path, it will reach the major support area of ~62k in a few days.
And that's when it gets interesting: Either both support lines hold, and BTC starts a fresh pump — or it is about to get hairy.
Here's why: If BTC breaks below the support at 62k, there's actually no additional support above 52k. Therefore, we might see a decline to the lower 50,000 levels.
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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.
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.