BTC ABOUT TO DUMP...
Oh well, is this the BTC dump i've been waiting for...
As we all know BTC has been consolidating for around 90 days now, an entire quarter. We broke the 100k mark but failed to really drive any higher and make any new significant highs, i wouldn't class anything under 110k a significant high.
There is a trend line that has formed with 3 points of contact, confirming it's previous reliability until recently when we saw a spike dump from BTC from over 100k to around 80k. This spike broke through that trend line as well as some significant lows, breaking the stability and reliability of the support levels and the trend line.
BTC is now currently retesting this trend line at around
98K, this could be a vital moment for BTC and all the Alts. If BTC rejects this trend line and drops off, continuing to break the lows of 90k i do believe we could see some downward momentum catch on and BTC could well continue downwards to the 70k mark.
I have been calling this for months now and hope it does happen as stated previously it gives us an incredible opportunity to load up our bags with BTC, but also with some good alts like XRP, SOL, BNB etc.
Lets watch closely over the next few days and see how this plays out. I am not short on this yet but would consider a short if this rejection takes place clearly.
As we all know BTC has been consolidating for around 90 days now, an entire quarter. We broke the 100k mark but failed to really drive any higher and make any new significant highs, i wouldn't class anything under 110k a significant high.
There is a trend line that has formed with 3 points of contact, confirming it's previous reliability until recently when we saw a spike dump from BTC from over 100k to around 80k. This spike broke through that trend line as well as some significant lows, breaking the stability and reliability of the support levels and the trend line.
BTC is now currently retesting this trend line at around
98K, this could be a vital moment for BTC and all the Alts. If BTC rejects this trend line and drops off, continuing to break the lows of 90k i do believe we could see some downward momentum catch on and BTC could well continue downwards to the 70k mark.I have been calling this for months now and hope it does happen as stated previously it gives us an incredible opportunity to load up our bags with BTC, but also with some good alts like XRP, SOL, BNB etc.
Lets watch closely over the next few days and see how this plays out. I am not short on this yet but would consider a short if this rejection takes place clearly.
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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.