BTC-update / Bitcoin looking for the bottom
Hey guys, after my last analysis, the price has moved as expected. Currently, the Bitcoin tries to form a bottom and runs along the lower bollinger bands. This bottom is in the range of $ 8600 to $ 9300. If the bears do not break this bottom we can expect a bull-run in the near future. Should the bottoming fail, the price will go as in the previous W formation analysis to 6000 $ ( Personally, I'm assuming that the bottom will break and we will test the $ 6000 support again, the rsi level is also in overbought direction). By then, the next bull-run awaits us.
Should the bottoming work, the price will move towards weeks to $ 13,500 resistance line
Let's be prepared for the next days.
Should the bottoming work, the price will move towards weeks to $ 13,500 resistance line
Let's be prepared for the next days.
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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.