Likely Reversal From $5k Support By Mid-July
Analysis:
BTC's ceiling seems to be retracing with perfect symmetry, which will likely bring BTC near 5k by mid-July and invoke a break through where the ceiling of the mid-term retracement and long-term support levels converge around 5k to continue the long-term upward trend.
Personal:
If BTC continues it's dive down to 5k in the expected timeframe specified above, I'll take a heavy position in leveraged futures between 4.8k and 5.3k. The leverage multiple will depend on short-term trends once BTC breaks through 5.3k. I expect to post an update when/if this analysis plays out in BTC.
BTC's ceiling seems to be retracing with perfect symmetry, which will likely bring BTC near 5k by mid-July and invoke a break through where the ceiling of the mid-term retracement and long-term support levels converge around 5k to continue the long-term upward trend.
Personal:
If BTC continues it's dive down to 5k in the expected timeframe specified above, I'll take a heavy position in leveraged futures between 4.8k and 5.3k. The leverage multiple will depend on short-term trends once BTC breaks through 5.3k. I expect to post an update when/if this analysis plays out in BTC.
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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.