Bitcoin is trading inside a Channel Up since the top of the 2017 Cycle.
It was supported by the 1W MA50 in August and that kept alive this Bull Cycle's Channel Up.
The last year of the previous Cycle was 2021 and throught its course, the 1W MA50 was in support.
Even if the 2025 Phase fails to peak at the top of the 8 year Channel Up, it can still complete the phase on the Channel's 0.75 Fib and technically looks like a minimum.
Trading Plan:
1. Buy on the current market price as a long term investment.
Targets:
1. 250000 (0.75 Fib and smaller Channel Up top).
Tips:
1. The RSI (1w) should be near 90.00 when the Cycle top is priced. Use it as a complementary indicator in order to close the position earlier if 90.00 is reached before the price hits 250000.
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It was supported by the 1W MA50 in August and that kept alive this Bull Cycle's Channel Up.
The last year of the previous Cycle was 2021 and throught its course, the 1W MA50 was in support.
Even if the 2025 Phase fails to peak at the top of the 8 year Channel Up, it can still complete the phase on the Channel's 0.75 Fib and technically looks like a minimum.
Trading Plan:
1. Buy on the current market price as a long term investment.
Targets:
1. 250000 (0.75 Fib and smaller Channel Up top).
Tips:
1. The RSI (1w) should be near 90.00 when the Cycle top is priced. Use it as a complementary indicator in order to close the position earlier if 90.00 is reached before the price hits 250000.
Please like, follow and comment!!
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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.
Join our private Telegram signals channel, with +70% accuracy for forex and crypto! 🎉
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
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.