Bitcoin is likely finished his B sucker rally and now is ready for C from or Running flat correction or expended flat.
Having in mind that BTC didn't retest support formed from JUN 2019 till SEP 2020 I am more toward it will be nasty expended flat correction with targets from 7 to 11k.
I understand BTC has ETF now, and I understand we have Blackrock now. Still, we also have to understand the economy, the rising USD dollar, Yield inversion, recession in front of us, inflation, etc.
IN the end, even though I'll have hundreds of attacks from perma bulls now, don't forget this is a very bullish count with a target above 500k in a few years!!!
Having in mind that BTC didn't retest support formed from JUN 2019 till SEP 2020 I am more toward it will be nasty expended flat correction with targets from 7 to 11k.
I understand BTC has ETF now, and I understand we have Blackrock now. Still, we also have to understand the economy, the rising USD dollar, Yield inversion, recession in front of us, inflation, etc.
IN the end, even though I'll have hundreds of attacks from perma bulls now, don't forget this is a very bullish count with a target above 500k in a few years!!!
Note
On weekly BTC looks horrible. If we close like this or even lower, I could say 90% chances are we had top!
A huge bearish reversal candle shooting star doesn't look good.
Note
Perma Bulls, rather buy now because the monthly chart looks very very sick and sad.
Bulls, if you see anything close to this candle at the end of the month sell and go away.
After FED FOMC tomorrow BTC could see from well below 55k
Note
If BTC confirms the reversal candle from last week, the target will be at the blue box.
This doesn't look good for bulls in short to mid-term, but again in long term just relax
Note
Its over. Bitcoin is going towards my target from several months ago. Guys and girls prepare for massive drop
Consistency is the key of success....
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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.
Consistency is the key of success....
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.