Long Term BTC Analysis

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Here we see BTC bounce with conviction off bottom support and is pushing on daily to reach top of wedge . Tone Vays called the 3k bottom long ago based on clear support levels and I see us reaching it around the end of August. Target being top of wedge at around $7600 and then a fall to hopefully what will be the bottom at $3000- It certainly could go lower than that or even find support above it at 4900 range. Ideally these would be your swing trade entry and exit points. Look for reversal candles on higher time frames to spot when this top could form. Ideally we will see another few weeks of bull before possibly the last leg down. Don't get too greedy during this run as I do believe another large leg down is imminent.

Short term- bull
medium term- BEAR
always a long term Bull on Bitcoin

Trade Safe!

Steven Glandsberg eats dessert alone. Don't let people eat their dessert alone.


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