Birds Eye View on Bitcoin
BTC touched the regression channel-bottom nicely.
I am open to several scenarios, where one is the institutional way of looking at things, using reload-zones.
I drew in three major reload-zones, and combined where they overlap, called reload zone in the chart.
If the support at 10,5k is broken we may see a fast decline into a possible touch around the 0,38-Fibonacci-level,
or a wick all the way down to the reload-zone mentioned, down to around 6k.
As the markets are quite volatile, and in my opinion ripe for a major correction, we may see BTC leading a decline that goes even below 6000.
The bear-market isn't officially over yet the way I see it, I do believe we are in a bull-market, but anything can happen.
This is my first published idea, I'm basically publishing so that I am more thoughtful of my analysis.
I had several a buy-orders, starting at 8888, and so far it bounced back at 8,9k - so I just missed that one.
To me the moment we see a weekly close above 14k is when the bull market has officially started.
Just to make it clear: I have also purchased a bit BTC, for buying Altcoins, at levels around 11-12k.
I see BTC heading for a correction - but it will most likely be short lived.
Cryptos are here to stay, and BTC is the mother of all of them.
I am open to several scenarios, where one is the institutional way of looking at things, using reload-zones.
I drew in three major reload-zones, and combined where they overlap, called reload zone in the chart.
If the support at 10,5k is broken we may see a fast decline into a possible touch around the 0,38-Fibonacci-level,
or a wick all the way down to the reload-zone mentioned, down to around 6k.
As the markets are quite volatile, and in my opinion ripe for a major correction, we may see BTC leading a decline that goes even below 6000.
The bear-market isn't officially over yet the way I see it, I do believe we are in a bull-market, but anything can happen.
This is my first published idea, I'm basically publishing so that I am more thoughtful of my analysis.
I had several a buy-orders, starting at 8888, and so far it bounced back at 8,9k - so I just missed that one.
To me the moment we see a weekly close above 14k is when the bull market has officially started.
Just to make it clear: I have also purchased a bit BTC, for buying Altcoins, at levels around 11-12k.
I see BTC heading for a correction - but it will most likely be short lived.
Cryptos are here to stay, and BTC is the mother of all of them.
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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.
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.