We have good news here. Bitcoin continues trading above $100,000-$102,000, in fact, this range hasn't been tested as support so far and this is a bullish development. Not moving below 100K can lead to a new all-time high in the coming months.
What to expect short-term.
The action is bullish now and we see some rising volume. Very little volume but still rising with two green candles. We have multiple levels to consider.
1) The $106,000-$107,000 price range. This is the zone labeled "local resistance" on the chart. If Bitcoin manages to move and close above this level on a daily basis, we can say the bulls are back in. While Bitcoin trades below this level, market conditions remain bearish and you can expect lower prices. Right now it is still bearish.
2) Once this local resistance is broken the next resistance to consider sits around $110,000. As soon as Bitcoin breaks this level it is hyper-bullish and we can aim for 200K.
Let's visit the all-time high potential in late 2025.
» If Bitcoin crashes below 100K and reaches the low 90Ks or lower, then the 200K target for a new ath later this year becomes less likely.
» If Bitcoin never moves below 100K then 200K becomes a high probability target, makes sense?
Right now conditions are still bearish because Bitcoin trades below "local resistance." The small green candles are not enough and it is still too early to say. Market conditions remain the same.
A good scenario would be consolidation, sideways, before additional growth. This would produce the best possible conditions for the altcoins market to thrive and grow.
Namaste.
What to expect short-term.
The action is bullish now and we see some rising volume. Very little volume but still rising with two green candles. We have multiple levels to consider.
1) The $106,000-$107,000 price range. This is the zone labeled "local resistance" on the chart. If Bitcoin manages to move and close above this level on a daily basis, we can say the bulls are back in. While Bitcoin trades below this level, market conditions remain bearish and you can expect lower prices. Right now it is still bearish.
2) Once this local resistance is broken the next resistance to consider sits around $110,000. As soon as Bitcoin breaks this level it is hyper-bullish and we can aim for 200K.
Let's visit the all-time high potential in late 2025.
» If Bitcoin crashes below 100K and reaches the low 90Ks or lower, then the 200K target for a new ath later this year becomes less likely.
» If Bitcoin never moves below 100K then 200K becomes a high probability target, makes sense?
Right now conditions are still bearish because Bitcoin trades below "local resistance." The small green candles are not enough and it is still too early to say. Market conditions remain the same.
A good scenario would be consolidation, sideways, before additional growth. This would produce the best possible conditions for the altcoins market to thrive and grow.
Namaste.
Trade active
Too many people are bearish on Bitcoin right now, I don't buy it.Bitcoin managed to recover even before hitting $103,000, an insignificant drop. The altcoins are starting to recover and why would any altcoin recover if Bitcoin was set to move lower? Doesn't make any sense.
The altcoins are bullish Bitcoin is bullish.
If Bitcoin grows the altcoins grow.
If the altcoins are producing a continuation Bitcoin is doing the same.
The altcoins cannot move forward if Bitcoin is moving backward. The fact that the altcoins are moving forward reveals what Bitcoin will do next.
» Bitcoin is going up! It continues trading easily and safely above 100K.
Namaste.
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➢ FREE PREMIUM Trades + Top Results
t.me/anandatrades/1183
➢ FREE Quality Content + New Results
t.me/masteranandatrades/6172
➢ Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
t.me/anandatrades/1183
➢ FREE Quality Content + New Results
t.me/masteranandatrades/6172
➢ Go beyond! PREMIUM LIFETIME Access
lamatrades.com (Since 2017)
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.