BTC consolidating for next run up
Updated
BTCUSDBitcoin is holding the trend line still (golden line on chart). It is now consolidating to let the RSI reset through time for next leg up. If you measure last run (starting about 12/14/20) it gives us a price of just under $60,000 by Chinese new lunar year. We have strong support at 32k and strong resistance around 40.7k. Watch both trend lines to see if bulls will push pass recent bearish activity.
Note
About 1 week late and 2k short of prediction. Orange trend line is acting as nice support now
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.