BitcoinLong
Simple TA on the Weekly Bitcoin outcome
To me the outlook is bullish on the weekly. We have been hanging around the 390 zone for a while, which acted as large support zone back in 2014, with multiple tests of support and eventual breakdown.
We've broken out this zone on the weekly, with a new candle tomorrow, which if it closes nice a solid, should mean we have a nice launch pad for $550-600 as the next "big short". I also think the lagging line poking above the Bearish Senkou Kumo cloud, which feeds into my bullish outlook.
After that I feel the 550-600 zone can be a good short, but if momentum has picked up, we might get to 700.
We've broken out this zone on the weekly, with a new candle tomorrow, which if it closes nice a solid, should mean we have a nice launch pad for $550-600 as the next "big short". I also think the lagging line poking above the Bearish Senkou Kumo cloud, which feeds into my bullish outlook.
After that I feel the 550-600 zone can be a good short, but if momentum has picked up, we might get to 700.
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