On the weekly timeframe, the price action of the previous two candles shows serious rejection from the 40-Day EMA. With the monthly candle likely to close above $60,000, the overall market sentiment remains very bullish.
The price of BTC/USDT is currently sitting around $64,000, and I wouldn't bet on it going lower than this. We see a confluence of horizontal structure with the 7- and 13-Weekly EMAs just crossing up at around $64,000. The daily timeframe shows a similar pattern. This appears to be the perfect time to enter, in my opinion. Big moves are around the corner; I can feel it. A price of $88,000 for BTC is very likely to happen in the next few months.
The price of BTC/USDT is currently sitting around $64,000, and I wouldn't bet on it going lower than this. We see a confluence of horizontal structure with the 7- and 13-Weekly EMAs just crossing up at around $64,000. The daily timeframe shows a similar pattern. This appears to be the perfect time to enter, in my opinion. Big moves are around the corner; I can feel it. A price of $88,000 for BTC is very likely to happen in the next few months.
Note
BTC is bouncing off very nicely from our bidding zone, but we're not in the clear yet. I'll be happy if we close this week above $67,000.Note
Updated this idea on my new post!
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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.