Hello,
What goes up, needs to come down aswell...
After breaking the 6K level last week Bitcoin is looking for a solid support and new liquidity.
An expected breakdown based on my previous analysis on the BTCUSD daily (see below).
What I expect during the coming weeks to come:
Exponential sell-off(s); This is needed in order to form a bottom (yellow bars)
This will drive down the price heavily and drive up (DMI-)
This idea supports the formation and continuation of the new ADX 'trend'.
Support and price target @ 200weekly MA: 3 000$
Im looking forward to your feedback,
Best,
Bavo
What goes up, needs to come down aswell...
After breaking the 6K level last week Bitcoin is looking for a solid support and new liquidity.
An expected breakdown based on my previous analysis on the BTCUSD daily (see below).
What I expect during the coming weeks to come:
Exponential sell-off(s); This is needed in order to form a bottom (yellow bars)
This will drive down the price heavily and drive up (DMI-)
This idea supports the formation and continuation of the new ADX 'trend'.
Support and price target @ 200weekly MA: 3 000$
Im looking forward to your feedback,
Best,
Bavo