ARESABI

BTCUSD - Critical Point

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In this idea we're looking at the Bitcoin price on the daily chart . After approaching the all-time-high in April, the price has now made a lower high - pointing towards the begin of a short-term downwards trend.
From a technical point of view we are looking for two scenarios

  • A higher low confirming the new emerging upwards trend, starting in July with $65.000 in sight
  • A lower high followed by a lower low, confirming the rejection at the resistance with $30.000 in sight

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<3
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welcome back. considering the bear model vs planb stock to flow, tough call at the moment.
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Good to see you back, Ares. Hope you're well ! Thank you for this idea.
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