The price is touching the support,
If it breaks one mid-term level down Target: 8300.
If it continues we'll rise one mid-term level up Target: 12000.
(i'm playing this on either side's breakout, using the opposite side as a stop-loss.)
We're in an uptrend before the halving, if the past is to repeat:
We will see a correction around the halving, bringing BTCUSD back near the long-term rising support.
Offering relatively low prices in a Long term perspective.
In the past the price sticks near the long-term rising support line:
This would be a good time to switch to a strategy that is LONG biased.
EG. mid term with big longs and small shorts.
From its Higher low to new highs, negatively correlating with the upcoming 2020-2021 Financial Debt Crash.
Going up to 50.000? 100.000? Who knows, it all depends on the values of BTC and USD
View on other timeframes : Bitcoin / U.S. Dollar (BITSTAMP:BTCUSD) (Temporary)
BTCUSD broke the rising channel, taking the short side.
Currently in a Narrowing descending wedge, and will likely form a broadening descending wedge.
On its way down it is likely to bounce between resistance levels.
This will bounce of that line.
Going to re-short @ 9000 , Target still @ 8300
Will be posting a follow up 2mo