BTCUSD Long to 8500
Updated
Short term:
Repeating the previous pattern to 8500 against the bearish resistance.
Mid term:
To drop to a Higher Low, one macro level up, down to 5000.
Long term:
From its Higher low to new highs, negatively correlating with the upcoming 2020-2021 Financial Debt Crash.
Going up to 50.000 to halt and retrace.
Seeing lower volatility in bearish retrace.
Repeating the previous pattern to 8500 against the bearish resistance.
Mid term:
To drop to a Higher Low, one macro level up, down to 5000.
Long term:
From its Higher low to new highs, negatively correlating with the upcoming 2020-2021 Financial Debt Crash.
Going up to 50.000 to halt and retrace.
Seeing lower volatility in bearish retrace.
Trade closed: target reached
short term: high region around 8500 reached.3-7 days to begin descent to previous 7000 region of support.
Here most likely interest and volume will weaken as the price gets squeezed by opposing sides losing volatility and prepares for a sharp move,( caused by nearby liquidation call orders in high leveraging ? ), likely down to a lower mid term level.
Unless upper resistance is too weak for the bullish mood.
Either way its safer to play on a breakout beyond a short term level up or down.
Since during the squeeze there might be movents to either or both.
Im rooting for 5000 and a delay for the rally, it will make it slower when it comes, and give me some time to get money togheter.
Trade closed manually
Whoa, small breakout !Looks a bit like 24/07/2018.
Curving the bearish resistance ? if so this is no place to FOMO.
`Triple bottom` in XBT is very short term unlike the `Adam and Eve`s that precede a bull run.
Lets see where XBT stands in a week, i'm out until then, don't over leverage !
MVPMC
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.