Likely Reversal From $5k Support By Mid-June
Analysis:
BTC's ceiling seems to be retracing with perfect symmetry, which will likely bring BTC near 5k by mid-June and invoke a break through where the ceiling of the mid-term retracement and long-term support level 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 5k and 5.5k. The leverage multiple will depend on short-term trends once BTC breaks through 5.5k. 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-June and invoke a break through where the ceiling of the mid-term retracement and long-term support level 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 5k and 5.5k. The leverage multiple will depend on short-term trends once BTC breaks through 5.5k. I expect to post an update when/if this analysis plays out in BTC.
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