Before I start to talk about this chart, I would be grateful if you could follow, like and leave a comment about the idea.
BTC has a support at the 62600$ area and has a resistance at 66400$ level in the short term. In the last weeks the coin managed to have a very strong support at the 58K, and a ATH at 69K (very impressive considering the OBV). However I can't ignore the fact that a bearish divergence similar to the months of February, March and April is starting to appear. People are so bullish (I am not a bear at all, I'm just trying to be realistic) that sometimes they just make impossible targets (like 100K plus). I don't know about the long term but looking at chart I think this year BTC won't pass 80K this year. I strongly believe in crypto in the long run, but for now I think that December can make the top for this bull run. I can be wrong, but I prefer to play safe. What about you? Comment your thoughts on this.
BTC has a support at the 62600$ area and has a resistance at 66400$ level in the short term. In the last weeks the coin managed to have a very strong support at the 58K, and a ATH at 69K (very impressive considering the OBV). However I can't ignore the fact that a bearish divergence similar to the months of February, March and April is starting to appear. People are so bullish (I am not a bear at all, I'm just trying to be realistic) that sometimes they just make impossible targets (like 100K plus). I don't know about the long term but looking at chart I think this year BTC won't pass 80K this year. I strongly believe in crypto in the long run, but for now I think that December can make the top for this bull run. I can be wrong, but I prefer to play safe. What about you? Comment your thoughts on this.
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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.