Or... to under 6K by end of the month.
As always, Bitcoin is presenting pretty good arguments for both directions and I stand by what I've always said: BITCOIN CAN ALWAYS GO EITHER WAY AND THERE WILL ALWAYS, IN RETROSPECT, BE TECHNICAL ANALYSIS TO EXPLAIN/RATIONALIZE WHAT HAPPENED.
Bullish:
We've found support on monthly 10 SMA
Impending "Golden Cross" on weekly
Bullish divergences starting to form on higher time frames
Getting way oversold on daily and 12-hr time frames
Potentially now at base of symmetrical triangle (pictured)
Bearish:
Death cross on daily
We've been creating lower highs on a macro (ie, weekly and monthly) level since June
We've broken 21 EMA on the weekly
We're under very thick red ichi clouds (w/crypto settings) on all the major higher time frames except the weekly
Choose your direction. It can go either way, and that's why successful trading is never really about TA or choosing short vs. long, it's about risk management!
PEACE OUT
As always, Bitcoin is presenting pretty good arguments for both directions and I stand by what I've always said: BITCOIN CAN ALWAYS GO EITHER WAY AND THERE WILL ALWAYS, IN RETROSPECT, BE TECHNICAL ANALYSIS TO EXPLAIN/RATIONALIZE WHAT HAPPENED.
Bullish:
We've found support on monthly 10 SMA
Impending "Golden Cross" on weekly
Bullish divergences starting to form on higher time frames
Getting way oversold on daily and 12-hr time frames
Potentially now at base of symmetrical triangle (pictured)
Bearish:
Death cross on daily
We've been creating lower highs on a macro (ie, weekly and monthly) level since June
We've broken 21 EMA on the weekly
We're under very thick red ichi clouds (w/crypto settings) on all the major higher time frames except the weekly
Choose your direction. It can go either way, and that's why successful trading is never really about TA or choosing short vs. long, it's about risk management!
PEACE OUT