SebastianofMoon

Amazing convergence of BTC supports points to a certain price

Short
BNC:BLX   Bitcoin Liquid Index
I noticed a crazy convergence of extremeley important supports, at a price range, that I think, will be the strongest support in this bearmarket.

The first support being the weekly MA300.
The second support being the longterm squareroot function trendline.
The third support being the line connecting the 2013 ATH with the China dip.

The last one comes from an idea by:
Credit to him for noticing this interesting characteristics of BTC, which also held in the
previous BTC bearmarkets for estimating the low.

All these three extremely solid supports point to a price target of 2000-2500 USD. Somewhere in that range.

I don't see it going below these supports for an extended period of time. If, then only very briefly with a very strong rebound.


Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.