Short Term Outlook: Bearish
Long Term Outlook: Bullish
Things are not looking good for Bitcoin as it continues to fail on breaking out past these resistance levels. Most notably the range from $37.5k - $40k.
Zooming out to the Weekly you can see a bear pennant starting to form up. Now, if the bulls fail to have a sustained breakout then we could expect the price to revisit $30k, with a flush to $28k (Long position liquidation).
On the Weekly timeframe, the 50 ema is currently hovering around $26k. That would be where I set up short with trailing stops.
Also, this is not financial advice.
Long Term Outlook: Bullish
Things are not looking good for Bitcoin as it continues to fail on breaking out past these resistance levels. Most notably the range from $37.5k - $40k.
Zooming out to the Weekly you can see a bear pennant starting to form up. Now, if the bulls fail to have a sustained breakout then we could expect the price to revisit $30k, with a flush to $28k (Long position liquidation).
On the Weekly timeframe, the 50 ema is currently hovering around $26k. That would be where I set up short with trailing stops.
Also, this is not financial advice.
註釋
Weekly Chart註釋
The Volume on the Daily tells the story.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。