TradingView
Sober_Trading
Aug 7, 2022 8:35 AM

BTC - 1W Market cycles 

Bitcoin / U.S. dollarBitstamp

Description

Let's see where we are in the market cycles.
BTC chart has a couple of parallel trend lines, and the price is near the last one. 18K is a strong demand zone, and it supported the price to stop falling in the previous month.
We are in a major pullback. It can't change to a bullish trend quickly due to the FED meetings and some news events.
So, we will probably have a trading range in these prices.
Comments
More