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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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.