Can we see 34500 in next 48hrs?
Still a nail biting moment whether the bears could take control again and push the price below 30k or if the bulls hold their ground and show their presence to the bears. Both sides are in a stalemate at this point.
Recent consensuses about price could drop to 20k or even down to 10k level is still a far call based on current situation as the bulls have not giving up yet. But you still need to have a plan to handle the selloff situation too if you are a bull. Like I mentioned before, as a HOLDr, my next dollar cost average level will be between 24k-28k level if we see that price action eventually plays out. But that call for action is there only when the price action becomes a reality.
Until then, at this time, the MACD histogram is indicating a bullish divergence since the June low. So, I am leaning towards price to move upwards from here. If we get to 34,500 in next 48hrs, that will immediately tells me that I can eliminate the probability of price ever reaching below 20k level right away and just prepare for 26k level if BTC stumbles. Once we see 34500 price, the 26-28k level will be a remote possibility.
The major support level is holding too. I have not put my bear cap on right now because as I said, we are still in a stalemate.
Recent consensuses about price could drop to 20k or even down to 10k level is still a far call based on current situation as the bulls have not giving up yet. But you still need to have a plan to handle the selloff situation too if you are a bull. Like I mentioned before, as a HOLDr, my next dollar cost average level will be between 24k-28k level if we see that price action eventually plays out. But that call for action is there only when the price action becomes a reality.
Until then, at this time, the MACD histogram is indicating a bullish divergence since the June low. So, I am leaning towards price to move upwards from here. If we get to 34,500 in next 48hrs, that will immediately tells me that I can eliminate the probability of price ever reaching below 20k level right away and just prepare for 26k level if BTC stumbles. Once we see 34500 price, the 26-28k level will be a remote possibility.
The major support level is holding too. I have not put my bear cap on right now because as I said, we are still in a stalemate.
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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.