A tough time for bitcoin bulls lately.
The most likely scenario is for a bounce off $5800, which eventually fails.
At that point, BTC/USD is likely to test $5000. It's likely support at $5000 will hold, after which a longer lasting rally can commence.
The drop to $5k shouldn't take longer than a month, maybe just 1 - 3 weeks from now.
My methods indicate a more powerful rally may occur in late September.
The most likely scenario is for a bounce off $5800, which eventually fails.
At that point, BTC/USD is likely to test $5000. It's likely support at $5000 will hold, after which a longer lasting rally can commence.
The drop to $5k shouldn't take longer than a month, maybe just 1 - 3 weeks from now.
My methods indicate a more powerful rally may occur in late September.
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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.