BTCUSD: 2-Month bars uptrend confirmed, hold until August 2021
I'm calling the eventual top in #BTCUSD by July-August 2021, between 42k and 281k.
As long as we hold over 6449.78, price will move up over time.
In the short term we need to hold here sideways for two days and move up on Friday, in an ideal world. Else this consolidation will drag on for longer. Weekly implies we hit 18k+- by the halving.
Cheers,
Ivan Labrie.
As long as we hold over 6449.78, price will move up over time.
In the short term we need to hold here sideways for two days and move up on Friday, in an ideal world. Else this consolidation will drag on for longer. Weekly implies we hit 18k+- by the halving.
Cheers,
Ivan Labrie.
Comment:
Daily view:
Comment:
To those buying BTC cause we had a moving average crossover: F#ck you.
With that out of the way, this drop seems to have been a shakeout, but it could get worse in the short term. Depends on the strength of long term buyers, to see if sellers get follow through, and we hit 8500 next, or wether we climb back over the yellow box in my chart (daily accumulation level, 9775-9739). If it holds, and tomorrow is a small range day around this zone, and Friday moves up from the 9750 level, we may go back into a steady uptrend. Else we might see a retracement during the next 2 months...I hope the latter is not the case.
The long term trend is active, and upside to 42k and up to 281k is possible, weekly also indicates we should go up until May or so. Let's hold spot for now, and see if sellers have power to get follow through, or if this is only a shakeout drop. Spot #BTC risk is acceptable.
With that out of the way, this drop seems to have been a shakeout, but it could get worse in the short term. Depends on the strength of long term buyers, to see if sellers get follow through, and we hit 8500 next, or wether we climb back over the yellow box in my chart (daily accumulation level, 9775-9739). If it holds, and tomorrow is a small range day around this zone, and Friday moves up from the 9750 level, we may go back into a steady uptrend. Else we might see a retracement during the next 2 months...I hope the latter is not the case.
Trade closed: stop reached
