$BTC buy in the green at $24.3k, sell at $36k+?

2023年6月11日

Updating my bigger picture analysis to focus on smaller timeframes. Overall thesis hasn't changed though.

While alts have taken a beating lately, BTC has remained relatively steady. I still think there's a little bit more downside in BTC, to around 24.3k, which is where I'm bidding for a long. If this happens, I'm anticipating alts to take another big hit (another 30-50% downside).

If price holds support there, then I think there's still decent upside over the next couple of months.

I'm looking for price to hold support at 24.3k, and then to head much higher from there. I do think that BTC can make it up to at least the 36K resistance, but also think there's a possibility that it can touch the grey area 40k+ target. I think this move would need to play out sometime between now and August.

I've marked off key resistance levels on the way up, could be good places to take profits as BTC moves higher.

Let's see if it plays out.

2023年6月12日

評論

Note: If BTC breaks support at 24.3k, the 200DMA is at $23400 or so. I'd expect a reaction there.

I'm being cautious in my entry. Will likely wait to go long until I see a strong reaction instead of having an open limit order.

2023年6月28日

評論

Hmm...after relooking at this chart, a support looks like it's missing a test. Let's see if we get it.

2023年6月28日

評論

$23200-24.3k.