Short
Minor Distribution within Larger Accum.
Near term, BTC is forming a pretty gnarly b-wave. Has resistance in current range (29k-31k). Highest I see it going before the drop is 30159-30177.
Downside Target by May 12th is 25294 (~25k), where I'm expecting it to find support and start next leg higher (likely to 34k-35k).
Needs to break below 27k to make it to 25k target, should see some explosive downside to break that level as soon as this week (around the FOMC meeting 3/3). Get ready for more volatility.
Downside Target by May 12th is 25294 (~25k), where I'm expecting it to find support and start next leg higher (likely to 34k-35k).
Needs to break below 27k to make it to 25k target, should see some explosive downside to break that level as soon as this week (around the FOMC meeting 3/3). Get ready for more volatility.
Note
More down coming
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Related publications
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.