Hope everyone has had a good weekend! Here is a simple chart detailing how I see things going until the 4th of July weekend. The trend line begins from the beginning of April, which is when I believe this new uptrend began as you can see the massive buying volume that occurred on that day. I've connected it with another high-volume red day to establish the trend. Given the channel that we are in, we will be lucky to break 10k by the end of the month, as the only way it will happen is if we break this channel that's been going for the last couple months. Be wary of any rallies pushing 10k before then, as they could be bull traps. Look for the volume to confirm the trend. Entering July, we can break 10k just in time for US July 4th holiday (I'd definitely pour some beers for that one!).
It does seem like we are overdue for a correction as we have not tested the trend line for some time. Just remember to set your stop losses. The previous resistance (8850) is now support, so my personal stop loss is set to 8500 which should give plenty of wiggle room as we all know how volatile Bitcoin is. If BTC decides to test the trend after that, I'd certainly look to buy back in anywhere even close to that.
Good luck and let's set some fireworks off for July 4th and Bitcoin 10k!
It does seem like we are overdue for a correction as we have not tested the trend line for some time. Just remember to set your stop losses. The previous resistance (8850) is now support, so my personal stop loss is set to 8500 which should give plenty of wiggle room as we all know how volatile Bitcoin is. If BTC decides to test the trend after that, I'd certainly look to buy back in anywhere even close to that.
Good luck and let's set some fireworks off for July 4th and Bitcoin 10k!