$BTC 2020-DEC-11
𝙄𝙎 𝘽𝙄𝙏𝘾𝙊𝙄𝙉 𝘼𝘽𝙊𝙐𝙏 𝙏𝙊 𝘾𝙍𝘼𝙎𝙃?
Short Answer: No.
Long Answer: No, but...
If we look at the 2013 - 2017 BTC cycle; at the point of returning to it's 2013 high watermark - the rally slowed and eventually retraced back by almost 30%. This was the last pullback before the price broke through to new highs. Importantly, there was another pullback which resulted in a retest of the previous high point. Using this, we can apply the possibility of a similar pullback onto the current chart.
A 30% pullback would give a price of ~$14,000 which is just below -1 standard deviation from the middle of the trending channel. Based on previous recovery points, it makes absolute sense that a retrace back to this range would provide a very strong volume bounce. Given the upside potential, it seems perfectly reasonable for scaling of order from anything below $16,000 - we don't want to miss this buying opportunity.
#crypto
Short Answer: No.
Long Answer: No, but...
If we look at the 2013 - 2017 BTC cycle; at the point of returning to it's 2013 high watermark - the rally slowed and eventually retraced back by almost 30%. This was the last pullback before the price broke through to new highs. Importantly, there was another pullback which resulted in a retest of the previous high point. Using this, we can apply the possibility of a similar pullback onto the current chart.
A 30% pullback would give a price of ~$14,000 which is just below -1 standard deviation from the middle of the trending channel. Based on previous recovery points, it makes absolute sense that a retrace back to this range would provide a very strong volume bounce. Given the upside potential, it seems perfectly reasonable for scaling of order from anything below $16,000 - we don't want to miss this buying opportunity.
#crypto
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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.
Publications connexes
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.