Bitcoin targets for the next 6 months. We leave predictions for the fortunetellers and the leafreaders.
Long target: $20,000.
This is the close of the most recent Liquidity Gap created in mid-November 2022. The last leg of the drop. Massive sales, buyers not strong enough and a sharp move down that created that weekly long red candle in our chart. If spot or futures, this is your first take-profit target, or re-evaluation of position if you don't wish to close it. For options, the Long Call leg of a strangle.
Short target: $14,000.
The last open LG that takes us back to Oct. 2020. Created on the way up. Pure buying poer back then, no selling pressure, and the creation of one of many consecutive LGs. Take profit if short, or this is your hedging target if you are spot/futures. For options, the Long Put leg of the strangle.
Good luck, and secure your trades. No stop-losses. Hedge.
Long target: $20,000.
This is the close of the most recent Liquidity Gap created in mid-November 2022. The last leg of the drop. Massive sales, buyers not strong enough and a sharp move down that created that weekly long red candle in our chart. If spot or futures, this is your first take-profit target, or re-evaluation of position if you don't wish to close it. For options, the Long Call leg of a strangle.
Short target: $14,000.
The last open LG that takes us back to Oct. 2020. Created on the way up. Pure buying poer back then, no selling pressure, and the creation of one of many consecutive LGs. Take profit if short, or this is your hedging target if you are spot/futures. For options, the Long Put leg of the strangle.
Good luck, and secure your trades. No stop-losses. Hedge.