BitcoinLong
BTCUSD Daily Chart - 3rd quarter Bullish prediction
Updated
BTCUSD has seemingly found support between 61 and 50% FIB retracement. Combined with on-chain data, that indicates bigger wallets accumulation tendency I believe, that price will be finding support for next few weeks, before continuing retesting higher end higher S/R levels as shown. Price will in my opinion not reach ATH in 3rd quarter of 2021.
Market fear will most probably impact also leveraged trading, which should decrease the chance of higher rise but will probably be more structured and stable.
Market fear will most probably impact also leveraged trading, which should decrease the chance of higher rise but will probably be more structured and stable.
Note
RSI is showing oversold levels and is showing a divergence pattern to price action above. Potential growth of ETH and defi accompanied with EIP1559 hype should also positively impact the price.
Note
Market will form a inverted H&S pattern on a daily and retest will be shown na 2x the neckline distance upwards as drown.Whales accumulating at lower prices and moving BTC to hard+cold wallets should decrease the amount of BTC on exchanges, making it easier for larger price movements to happen.
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