Here's A Long Term Outlook For Bitcoin (Monthly Candles)
Hope you find value from this post.
If you did, pleases give this post a like and do consider following. Thanks.
Here's a trading idea.
But firstly...
============================== Quick Disclaimer: Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade. Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money. ==============================
OK, What Are The Things To Watch Out For & What To Expect When The Market Does Such Specific Movements?
Monthly Floor Market Structure to watch out for is 38.5K
Break of market structure (support at 38.5K) will mean an expected 28K - 25K (possibly the last opportunity to buy Bitcoin at these prices if these levels don't get retested in 2023). Let the market come to you.
Monthly Ceiling Market Structure for bulls to break is 43.2K.
Bull breaking ceiling market structure will mean an expected price of 57K, and further push upwards will eventually bring Bticoin up to 70K to 73K by EOY (End Of Year) 2022.
Moving Average on Chart: 50 Months MA (Green)
MACD: Tends to revert to zero level. (Big Red Alert!)
All price targets are based on Fibonacci Ratios.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art. Develop an intuition and listen to your instinct while following the rules putting emotions aside. If you have not yet developed it, you will develop this as long as you stay consistent with following the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle. Soon it will be your subconscious running your trades, again, much like when riding a bicycle the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron Intrepid_Trader
++++++++++++++++++++++++++++++++++++++ Just For Fun! Radical price prediction - 294K by Oct. 2024 ++++++++++++++++++++++++++++++++++++++