DealerBTC My Thoughts: #Bitcoin $BTC Bullish $35k

This is an update to explain my current thoughts on Bitcoin. In my opinion, price is headed to test resistance @ $25,211-$26,000. On the daily timeframe there is some consolidation taking place - sideways - meant to chop and confuse. My bias remains bullish until there is a test of the resistance area I just mentioned. IF, price were to break below the support area of $20,407-$19,798, I'd consider a short-term bear bias to $17,622. If this were to happen, I'd treat the entire region between $26,000 and $15,746 as a macro area of consolidation. I would not be bearish on Bitcoin unless there is a CLEAR breakdown below the current low @ $15746.

If price breaks above $26,000, I'm anticipating a continuation to near $35,000. This is the most likely scenario - based on my experience. Hence, my bias is bullish.

If you are trading the lower timeframes - as I am - it is best that you have a clear idea of what you are doing and not get chopped up as most people will.

This trade idea is not any kind of financial advice. I am not a financial advisor of any kind. I am a stupid degenerate gambler. Please do your own analysis, responsibly manage your risk, and stay safe.

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