Bitcoin Above 5000$
The idea is based on price move average , technical and fundamental indicators. After the big drop we saw the Bitcoin falling to the 3000$ level most serious support level. Looking at lower timeframes, first target is to crack down the blue trendline that indicates the down trend. We might see some more downside before we crack that resistance. Important is that we stay above the yellow trendline to remain bullish .
On a short term (1hr chart), I see a trend reversal pattern right now forming which might cause some correction on the strong bounce which is very logic imho.
My idea is for long term Bitcoin trading without next support levels which can be around 3500$ level.
I am looking forward in the next months to reach 5000$ level and then above it to 5500 and 6000$ level.
On a short term (1hr chart), I see a trend reversal pattern right now forming which might cause some correction on the strong bounce which is very logic imho.
My idea is for long term Bitcoin trading without next support levels which can be around 3500$ level.
I am looking forward in the next months to reach 5000$ level and then above it to 5500 and 6000$ level.
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.