A little bit of warning for Bitcoin
We all know that Bitcoin, or crypto market in general is soooo bullish right now. As far as I know, so many people in cryptospace are shouting 20K! 27K! Even 50 or 100K USD this year.
While I do hope for that to happen, and I am bullish on the long term, by simple technical analysis, a correction is due soon.
Let us look at the bigger picture. In 1 month timeframe, we can see that BTC had already broken the multi year resistance trendline. Some people are targeting 27K or more.
However, let's not forget that every breakout often comes with a retest. So, I predict that a correction to retest the broken trendline will come soon. It will be somewhere in green area. 7173 to 8960 (maybe not that precise, but you get the idea)
When will it happen? Most probably in 3 months period. I would say after BTC got rejected by the yellow line. 14k is the key resistance we need to overcome before we can talk about going back to ATH.
So, I think it will be
1. 14k
2. Correction to green zone
3. Possibility going back to ATH
This not a FUD or anything, just giving you a heads up reminder that the market moves in 2 direction
While I do hope for that to happen, and I am bullish on the long term, by simple technical analysis, a correction is due soon.
Let us look at the bigger picture. In 1 month timeframe, we can see that BTC had already broken the multi year resistance trendline. Some people are targeting 27K or more.
However, let's not forget that every breakout often comes with a retest. So, I predict that a correction to retest the broken trendline will come soon. It will be somewhere in green area. 7173 to 8960 (maybe not that precise, but you get the idea)
When will it happen? Most probably in 3 months period. I would say after BTC got rejected by the yellow line. 14k is the key resistance we need to overcome before we can talk about going back to ATH.
So, I think it will be
1. 14k
2. Correction to green zone
3. Possibility going back to ATH
This not a FUD or anything, just giving you a heads up reminder that the market moves in 2 direction
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.