I am long BTC/COINBASE all in.
Hello! Please review my previous ideas to see how my analysis has been going, leave any comments thanks!
The reason this is bearish:
Where things can go bullish:
Hello! Please review my previous ideas to see how my analysis has been going, leave any comments thanks!
The reason this is bearish:
- The rising wedge had a bearish breakout as plotted
- The $37,500 has been mild support on this breakout
- More fud has been coming out against BTC/Crypto
- The death cross has recently happened where the 50 day MA crossed under the 200 day MA signaling bearish trend
- This is most likely to consolidate in the $36,800 area if the mild support is broken before indicating a bearish or bullish breakout
- If the bearish trend continues past $36,800 then the next move down can be to the $34,800 range
Where things can go bullish:
- A breakout of this falling wedge to the north side can cause the next price to hit $38,500 range
- Elon Musk tweet seems to still be positive catalysts
- More countries adopting BTC as legal tender
- Sudden spike in inflation (less likely as the Fed meeting recently confirmed this)
- SEC approving Crypto ETF
- BTC Adoption
- Short sellers covering their position (currently high amount)
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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.
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.