BitcoinLong
Will this channel hold?
Updated
Hello everybody,
my last post was in may, when the majority did believe we are heading into a long bear market.
I posted a chart which called 30k as "best buy" for this year.
Now since then, we reached over 60k and now we see a little down move and again, many people do not believe we are bullish right now.
But what if.... this channel will hold?
From the fibo levels, our next target should be around 87k.
After that, we could see a correction again & then we could get to our final move for this bullrun.
Targeting 100k and above.
But in terms of time predictions... i guess it will be 2022.
Good luck us!
my last post was in may, when the majority did believe we are heading into a long bear market.
I posted a chart which called 30k as "best buy" for this year.
Now since then, we reached over 60k and now we see a little down move and again, many people do not believe we are bullish right now.
But what if.... this channel will hold?
From the fibo levels, our next target should be around 87k.
After that, we could see a correction again & then we could get to our final move for this bullrun.
Targeting 100k and above.
But in terms of time predictions... i guess it will be 2022.
Good luck us!
Note
What you see in this chart:===
yellow - 21 week EMA
pink - 50 day MA
dotted blue - support since the year 2015
dashed grey - our next target
Note
Fear & greed index at 16 !!! Massiv fear in the market.alternative.me/crypto/fear-and-greed-index/
We should go up, but for now. The channel is already broken.
We have to watch the next 3-4 weeks, what will happen.
Note
Channel for now is definitely broken. But, the good news!We are at massiv support levels:
2.168er fib back from last run & 200 day moving avg.
I wouldn't trade at this moment. It's risky in both directions.
But for the long run, this is not the worst time to buy more.
Note
New update - daily chart:
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