BTCUSD weekly analysis
Here you can see some clean TA with bitcoin heading into OB territory paired with a negative regular divergence- in situations like these on higher time frames it is wise to be looking to take profits if you are long or maybe hedge with some BTCDOWN positions or something. I am still heavily bullish on bitcoin but price can still come down further perhaps to previous 0.5-0.618 Fibonacci from the previous wave upwards. A retracement was well needed for BTC to continue up. Look for rejection above 0.5-0.618 area to enter positions on BTC or reaccumulate spot. Break below support makes it invalid. Still travelling above all the EMAs, the 50 still on top ;). Trading above ichi kumo cloud too if you like them. Hella confluences on TA side and in terms of FA the best it yet to come from BITCOIN. I very well believe 170k levels are possible for this year to come, this is still early days of adoption, stimulus is yet to come, supply is shrinking, demand is increasing, future halvings, the FED are still printing... if you are investing now you are still earlier than some. This is not financial advice but a personal insight into BITCOIN. Trade safe and always follow an appropriate risk management strategy! NGS
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