Bitcoin Update - New Year
Hi guys!
I think the chart can talk for itself. You can see that there's a trendline, which has been respected by BTC several times. As long as that doesn't break, I will not be bearish. You can see that we can spot a divergence, that's pretty clear too. So let's summarize what we see on the chart.
- Divergence = RSI is making higher lows than the Bitcoin price.
- Bitcoin seems to react on the trendline.
- A bullish reversal pattern is in its formation.
- 2 key levels that need to be broken.
- Back in October, we had the "same" situation. Divergence + 2 key levels that needed to be broken. When that happened, we went up almost 70%. If this happens again, then we will hit our 70K target.
Conclusion:
There's literally no need to panic as long a Bitcoin doesn't break the trendline.
Don't forget to support this idea by giving it a like!
I think the chart can talk for itself. You can see that there's a trendline, which has been respected by BTC several times. As long as that doesn't break, I will not be bearish. You can see that we can spot a divergence, that's pretty clear too. So let's summarize what we see on the chart.
- Divergence = RSI is making higher lows than the Bitcoin price.
- Bitcoin seems to react on the trendline.
- A bullish reversal pattern is in its formation.
- 2 key levels that need to be broken.
- Back in October, we had the "same" situation. Divergence + 2 key levels that needed to be broken. When that happened, we went up almost 70%. If this happens again, then we will hit our 70K target.
Conclusion:
There's literally no need to panic as long a Bitcoin doesn't break the trendline.
Don't forget to support this idea by giving it a like!
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.
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.