Bitcoin Daily
My original premise is that Bitcoin's correction would be a potential w-x-y-x-z has come close to playing out....the "Z" leg is yet to possibly come. I remain bullish long term, and I am a bull at each pivot, only to see it fail and drop lower....[sigh]. I believe the Z leg has a strong chance, and this correction could last into April.
I can make an argument for this going lower, and Bitcoin testing the 5500 range....I also track a lot of altcoins, and some of them have really solid targets at lower prices too....as a matter of fact, it's one of the reasons I believe this goes lower, or at least, keeps me more on the bearish side. That said, and at current, there is a lot of divergence, which would suggest that price turns here and now....if it can't make the turn and head to higher ground(much higher), then I believe it will fail and head for a new low.
Cheer$ and good luck!
I can make an argument for this going lower, and Bitcoin testing the 5500 range....I also track a lot of altcoins, and some of them have really solid targets at lower prices too....as a matter of fact, it's one of the reasons I believe this goes lower, or at least, keeps me more on the bearish side. That said, and at current, there is a lot of divergence, which would suggest that price turns here and now....if it can't make the turn and head to higher ground(much higher), then I believe it will fail and head for a new low.
Cheer$ and good luck!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.