The price has been going side ways for 2-3 months now.
For long term trend investing/trading
Bullish - we break 42000USD on the daily, we will go to 48 000USD.
Bearish - we break 29000USD on the daily, we will go down to 20 000USD (Previous ATH).
For short term outlook - referring to the chart posted, we have a bullish set up for a falling wedge with ABCDE wave down. The price rejected the 31950 level 2 hours ago and unable to break out. The price is currently falling, but break out would be confirmed if the top trendline is broken. However I am expecting a long at 30 850 USD level. Breaking down this level will invalidate the set up and looking at the support lines below.
We have the following support - 30 000USD, 29 000USD. Dont enter now and wait for confirmation.
Cheer and enjoy the weekend.
LZ
For long term trend investing/trading
Bullish - we break 42000USD on the daily, we will go to 48 000USD.
Bearish - we break 29000USD on the daily, we will go down to 20 000USD (Previous ATH).
For short term outlook - referring to the chart posted, we have a bullish set up for a falling wedge with ABCDE wave down. The price rejected the 31950 level 2 hours ago and unable to break out. The price is currently falling, but break out would be confirmed if the top trendline is broken. However I am expecting a long at 30 850 USD level. Breaking down this level will invalidate the set up and looking at the support lines below.
We have the following support - 30 000USD, 29 000USD. Dont enter now and wait for confirmation.
Cheer and enjoy the weekend.
LZ
Note
Break 31800USD will be bullish short term :)Note
Note
lets see
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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.