Bitcoin, where are you going?
Bitcoin has shattered the expectations of recent our recent charts. The bulls are in, and proof is in the chart and history. Taking a look at the 1W chart, the MACD is showing that it just began a long bullrun.
Second, take a look at the green boxes. Whenever Bitcoin started moving up.. it kept going up. There is no time in its history where Bitcoin moved up which was interrupted by a massive sell off.
Shorts vs Long: There are two ways of making gains here. You can short, buy back in with more capital for even greater gains (by percentage) or you can long this. It seems like we are heading into another summer bull run. It seems like Bitcoin is more and more of a safe haven, specially since China is trying to digitize their currency more and more. 3rd world nations are also going into Bitcoin as well, but as great as Bitcoin is, it will never replace Gold as THE safe haven asset.
Targets: $15,000-20,000
Disclaimer: Bitcoin is a relatively new investment. Bitcoin like every stock, future, commodity is manipulated. With that being said, there is nothing stopping a massive sell off without warning. This is the risk to cryptocurrency. You can foresee stock market, fiat declines based on the health of the economy. The same can not be said about crypto.
This chart has completed the bear market. It is showing a great bullrun, correction, and continued bull market.
Second, take a look at the green boxes. Whenever Bitcoin started moving up.. it kept going up. There is no time in its history where Bitcoin moved up which was interrupted by a massive sell off.
Shorts vs Long: There are two ways of making gains here. You can short, buy back in with more capital for even greater gains (by percentage) or you can long this. It seems like we are heading into another summer bull run. It seems like Bitcoin is more and more of a safe haven, specially since China is trying to digitize their currency more and more. 3rd world nations are also going into Bitcoin as well, but as great as Bitcoin is, it will never replace Gold as THE safe haven asset.
Targets: $15,000-20,000
Disclaimer: Bitcoin is a relatively new investment. Bitcoin like every stock, future, commodity is manipulated. With that being said, there is nothing stopping a massive sell off without warning. This is the risk to cryptocurrency. You can foresee stock market, fiat declines based on the health of the economy. The same can not be said about crypto.
This chart has completed the bear market. It is showing a great bullrun, correction, and continued bull market.
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Bust. Bitcoin is pegged to the stock market, it could crash to worthlessness at this point.
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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.
Related publications
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.