BTC - More Downside Coming
I do my best to only trade longer term trends. My last post was during the last bottoming event for Bitcoin when I was accumulating. In my opinion there's two scenarios here. We bottom out in the 5k range and bounce or Bitcoin breaches the 3200 low from last year and we destroy a lot of peoples hearts in the process. I've set my first two 25% short term buys for BTC, one of them has already been hit. I will evaluate market conditions if we break below 5k and publish where my final two buy targets will be.
Note
I also forgot to mention the notch in the Volume Profile in the 5k region which is another reason why I see us moving lower.
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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.