BitcoinLong
The bullish rally is coming in September
Unfortunately (or fortunately) the current trendline just broke, so that would be the end of the short-term bullish period and we are entering a short-term bearish period.
Most probably, in early September BTCUSD will hit its new bottom (lowest possible price is 6.5k) and after that a huge bullish rally will start.
The good thing about the upcoming short bearish period is that it will allow a formation of an inverse head and shoulders pattern. The shoulders are April and Mid-September and the head is July. That will confirm the long awaited end of the bear season.
TLDR: Bearish August, Huge rally afterwards
Most probably, in early September BTCUSD will hit its new bottom (lowest possible price is 6.5k) and after that a huge bullish rally will start.
The good thing about the upcoming short bearish period is that it will allow a formation of an inverse head and shoulders pattern. The shoulders are April and Mid-September and the head is July. That will confirm the long awaited end of the bear season.
TLDR: Bearish August, Huge rally afterwards
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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.
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.