Look on Bitcoin's price position comparing to 2019 and 2020
Updated
Dear analysts and traders,
sharing for your attention my observations on
BTCUSDT current price position through global channel by comparing the price to 2019 and 2020, when the price buyer's activity both stopped in the middle range of the global channel.
#1 is 2019, #2 is 2020.
So, 2024 comparing to one of above possibilities, where are we now, are we at #1 or #2 possibility?
If we are at #1, we shall see about 20-30% price down and further, if #2 then 10-20% price down.
Taking into consideration current: 1) world political situation, and reflecting on 2019 with 2020 situations, in 2024 the world economy is more different from previous years, 2) RSI both on weekly and monthly timeframes, it looks close to 2020 price movement.
And in the end we say, The Almighty God knows best.
sharing for your attention my observations on
BTCUSDT current price position through global channel by comparing the price to 2019 and 2020, when the price buyer's activity both stopped in the middle range of the global channel.#1 is 2019, #2 is 2020.
So, 2024 comparing to one of above possibilities, where are we now, are we at #1 or #2 possibility?
If we are at #1, we shall see about 20-30% price down and further, if #2 then 10-20% price down.
Taking into consideration current: 1) world political situation, and reflecting on 2019 with 2020 situations, in 2024 the world economy is more different from previous years, 2) RSI both on weekly and monthly timeframes, it looks close to 2020 price movement.
And in the end we say, The Almighty God knows best.
Trade active
BTC price monthly has crossed the criticial 68K price resistence and confirmed it.Now...we are entering long price growth phase.
I'm moderately expecting 90K.
Trade active
We shall observe the break upper trend resistance.Trade closed: target reached
Note
If We are going to cross the middle resistance in global upword channel, we will be targetting 200K.
Note it, readers. DYOR!
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