Hello Everyone. This 1D Chart of BTC is looking Bearish to me. I think the technical damage has already been done to BTC because lately the price action is almost all influenced by American hype and spin, ranging from tariffs to fear of recession or stagflation looming around the corner. The major indices SPX, DJI, NDQ are all starting to roll over and correcting from all time highs. There are so many global Bearish indicators out there and I don't have time to write them all. You may not notice the Bearishness yet, but I feel it is here to stay for medium term. Don't get me wrong, there will be Bullish rebounds and retraces along the way (institutional and whale pump and dumps) as we are seeing today. I am for sure not going to make any public price predictions on any price targets. This is only how I see things at the moment. Personally, I will start to slowly DCA at the first Support Level of $68,000 - $74,000. My orders are already placed because this can happen very quickly with BTC and crypto in general, as we all know. The next stop if the aforementioned Support Zone breaks and confirms on the Daily chart, may be $48,000 - $52,000. My Buy Zone is in purple rectangle box. Maybe a stronger Altcoin Season will arrive soon as BTC tries to find a lower solid base. I am only publishing this for a new, simpler way of looking at BTC and the trend levels and lines to help assist the retail investors who usually get played by the big institutions. I welcome any and all comments and arguments. As always, DYOR, ask questions, do not get emotional, and be patient! Thank you for reading, best of luck, and happy trading to all of you.
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Disclaimer
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.