Bitcoin BTC-USD Long Setting up for a run within 10 days.
Looking at my charts I see BTC-USD setting up VERY nicely for a bullish run at 30k+ zones over the next 10 days. MY current by zones for BTCUSD is between 28750 and 27000 over the next week. I see the possibility of price action hitting off the Midline of the Bollinger bands as a support level then retesting upward to find the new limits of the upper Bollinger band. The longer term Moving Average is just now starting to come into a play as a supporting indicator here and should provide additional momentum conformation for other traders.
I think sometime this year when BTCUSD crosses strongly into the 40k area that we will again start to see Institutional and Corporate investing start to add BTC to their balance holdings similar to 1/4 to 1/3 their exposure levels of Gold/Silver. Look for a LOT of world turmoil and conflict with the bloc ditching the US Dollar and this will drive even the most dedicated T bill holder into a new bitcoin dabbler, looking for some trend, stability, and possibly some recovery in a really rocky income market later this year.
Once we hit 30k we should expect to fall back to support 2 or 3 times around 28k before staying above 30k for any extended period of time.
Just documenting my thoughts for myself :) Do your own research.
I think sometime this year when BTCUSD crosses strongly into the 40k area that we will again start to see Institutional and Corporate investing start to add BTC to their balance holdings similar to 1/4 to 1/3 their exposure levels of Gold/Silver. Look for a LOT of world turmoil and conflict with the bloc ditching the US Dollar and this will drive even the most dedicated T bill holder into a new bitcoin dabbler, looking for some trend, stability, and possibly some recovery in a really rocky income market later this year.
Once we hit 30k we should expect to fall back to support 2 or 3 times around 28k before staying above 30k for any extended period of time.
Just documenting my thoughts for myself :) Do your own research.