Bitcoin - Continuation of the rally after $60,000?
Attention to the Bitcoin chart. The orange line is similar to the short-term holders' realized price, only slightly better. Almost every time the price approached this line, Bitcoin dropped by another 4-7% and then immediately reversed and continued to rise.
Looking at the current situation, we have a clear parallel channel in which the price has been for over 90 days. And 4-7% below the orange line is the lower boundary of the channel.
Based on past scenarios, a likely outcome could be a drop, a liquidity grab below the channel, and then a reversal of Bitcoin and the start of a new wave of growth.
If there is not enough liquidity below, then the price could easily fall and quickly reach the $53,000 level. If BTC consolidates above the channel, then the road to the $100,000 level will be open.
Looking at the current situation, we have a clear parallel channel in which the price has been for over 90 days. And 4-7% below the orange line is the lower boundary of the channel.
Based on past scenarios, a likely outcome could be a drop, a liquidity grab below the channel, and then a reversal of Bitcoin and the start of a new wave of growth.
If there is not enough liquidity below, then the price could easily fall and quickly reach the $53,000 level. If BTC consolidates above the channel, then the road to the $100,000 level will be open.
✅ Get my ready-to-use Buy/Sell Crypto Systems & Alerts 👉 [ bit.ly/bs-alerts ]
💼 Expert Asset Management 👉 [ bit.ly/assetmn ]
💼 Expert Asset Management 👉 [ bit.ly/assetmn ]
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.