BTC to $53800....or worse
Very rudimentary wave analysis done a few weeks ago has been pretty accurate.... BTC -5.25% has moved below long-term support line (on log scale), so turnaround much less likely now. BTC -5.25% also close to making a death cross, which hasn't happened in years and came before several months of decline / sideways movement. First target is $5800-6500. Second target $5000-5200. If price doesn't start to reverse at those levels (or by mid-April), I'm looking for $2900-3200 and may start buying back in starting at $4750 in increasing increments every $250 down. For now, holding cash and using 3-5x leverage on Bitmex. About 30% ROE in past 5 days
Note
Title wrong....target is $5800
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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.