So, I did a quick TA on Bitcoin
. Looks like BTC
might be going lower. If I am going to buy BTC
, I will be setting my price target on $9180. If that level doesn't hold then I will be looking at $8301. $9130 cones across as a good buy zone because its where the price took off previously to its most recent high. I usually use the level where price took off to its most recent high because thats what I've always noticed in price action... that price usually return to where it took off from. Its also in a liquidity zone because if you look back in time (to the left, price bounced a lot within that zone which makes it a liquidity area (lots of buying and selling). From a weekly time frame perspective, price action looks bullish
to me but I still think BTC
has to go lower before attempting to test new levels.
Disclaimer: This is not an investment advice and I not even confident enough in my technical analysis
. This is just simply to educate myself and reference to in the future. Please DYOR