Goodday fellow traders/analysts,
This is my long term technical analysis on BTCUSD. Looks a bit radical however, bare with me. 8 months to go till bitcoin halving.
It looks like a huge broadening wedge is forming. Perhaps the 2024 btc halving will make this happen. See dashed blue lines. Referencing to the current avarage trend of btcusd's price-action trajectory.
Short term, Looking bearish. Rising Broadening wedge, most of the time bearish breakouts. Since candles are already closing below support. Highly possible of continuing its bearish trajectory. Mostly likely will find support approximately at 13K region.
This is my long term technical analysis on BTCUSD. Looks a bit radical however, bare with me. 8 months to go till bitcoin halving.
It looks like a huge broadening wedge is forming. Perhaps the 2024 btc halving will make this happen. See dashed blue lines. Referencing to the current avarage trend of btcusd's price-action trajectory.
Short term, Looking bearish. Rising Broadening wedge, most of the time bearish breakouts. Since candles are already closing below support. Highly possible of continuing its bearish trajectory. Mostly likely will find support approximately at 13K region.
