BitcoinShort
BTC - what if it's lower than $56 522?
On May 21, the BTCUSD chart formed a model on the weekly timeframe that describes the key logic behind the price movement.
The model was confirmed by touching the trend line:
After an unsuccessful attempt to retest the trendline between June 5 and June 8, the price retreated towards the 4 point ($56 522).
Right now the price is trying to consolidate above this level, but ifBTCUSD still fails to trade higher during the week and goes back under $56 522, we could see price levels like $43 349 and $33 229 in the long term.
BTCUSD chart formed a model on the weekly timeframe that describes the key logic behind the price movement.The model was confirmed by touching the trend line:
After an unsuccessful attempt to retest the trendline between June 5 and June 8, the price retreated towards the 4 point ($56 522).
Right now the price is trying to consolidate above this level, but if
BTCUSD still fails to trade higher during the week and goes back under $56 522, we could see price levels like $43 349 and $33 229 in the long term.
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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.
📈 Investing is easier than you're used to
🌐 tsfc.io
🌐 tsfc.io
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.