Mihai_Iacob

Bitcoin- Approaching 2017 ATH. Rebound is probable

Long
COINBASE:BTCUSD   Bitcoin
In my previous BtcUsd analysis I said that, after the false up break from the consolidation, I expect a drop to the 25k zone. And indeed, the main cryptocurrency has dropped, going even further than my expectations.
Looking at the weekly posted chart, we can see that the trend is extremely bearish and, if you are not a " to the moon" dreamer, you can't expect a V shape reversal from this trend.
However, at this moment, BTC is approaching 2017 ATH, and I expect this level to provide support and a relief rally is probable from this point on.
I will look for a short-term speculative buy around 20k with a target around 25k, now resistance.

🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals

💎 Crypto Channel:
t.me/FanCryptocurrency

🌟 Premium Contact:
t.me/IacobMihai
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.