The common assumption is that Bitcoin is crazy and unpredictable.
But if we look at the big picture - A technically perfect picture appears, predictable looking at roughly a year and a half of trading.
Connecting the lowest and highest points creates an ascending (rising) tunnel with parallel lows and highs.
The current floor of the long-term trend is around 32,000 per coin.
The current roof of the long-term trend is around 50,000 per coin.
A daily weekly candle close below 40,000 could mean 38,000 to 32,000 would be the next targets to come.
A daily weekly candle close above 40,800 could mean immediate target would be back to
42,000 following with 44,000 and 48,000.
ETF news provide turbulent movements which provide attractive entry points in the bigger picture view of up-trend since beginning of 2023.
A weekly close below 32,000 would be the sign of the picture shifting, but until that happens bitcoin is overall expected to have a very bullish year.
But if we look at the big picture - A technically perfect picture appears, predictable looking at roughly a year and a half of trading.
Connecting the lowest and highest points creates an ascending (rising) tunnel with parallel lows and highs.
The current floor of the long-term trend is around 32,000 per coin.
The current roof of the long-term trend is around 50,000 per coin.
A daily weekly candle close below 40,000 could mean 38,000 to 32,000 would be the next targets to come.
A daily weekly candle close above 40,800 could mean immediate target would be back to
42,000 following with 44,000 and 48,000.
ETF news provide turbulent movements which provide attractive entry points in the bigger picture view of up-trend since beginning of 2023.
A weekly close below 32,000 would be the sign of the picture shifting, but until that happens bitcoin is overall expected to have a very bullish year.
Comment:
Trend-line broken below 40k leading down to 35,200? Today will likely tell!
