BTC Come on Down, When the Price is Right 2
I am now looking at the bearish channel as it intersects the long term bullish trend. As time goes by, I think the purple levels don't hold, and the light blue 3k area gets lost on the time horizon, so I am now pinpointing the yellow area. This still assumes the long term bullish channel holds true, and it has been awhile since btc has traded in this channel, but I think it is a good level of historical support. It could jump up from here, and I know many people want to get on the bull run again, but I still think we are a month out. For whatever reason, I have felt the first week of August might be about the right time to start another bull run. You can adjust the yellow box a bit while looking at prior resistance and floors in this area, but to me the value is where the channels intersect along with the Aug 1 time line. I want to watch and see how this develops over the next month, but targeting the low to mid 4k area now.
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.