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mr_applepie
Jan 16, 2021 12:09 PM

BTCUSD - Trade the longer cycle, $45,600 next Long

Bitcoin / U.S. dollarBitstamp

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https://www.tradingview.com/x/doa2rFY0/

Trade the longer cycle. Bitcoin is here to stay. $45,600 price point is inevitable. However we might still visit down to $20,000 range as we're way over extended on RSI. Price is driven greatly by emotions at this time and smart money is waiting patiently the next move. I hope for the healthy correction to accumulate additional BTC. Otherwise, keep an eye on the Fib levels and take some profit once in a while to have additional cash at hand for these correction periods.
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