BYBIT:BTCUSD
After further analysis and zooming out a bit, this is how I see Bitcoin PA playing out for the foreseeable future on the 1W chart. Initially I thought we were following a path to a more rapid selloff, but this consolidation looks a lot like what we saw Jun 19' - Sep 19', even with the timeline almost aligning to the month.
Horizontal resistance at $9.5k has proven to be the top many times, and this time doesn't look to be any different. I see us running down to $7.1k, consolidating sideways for a bit, then breaking the $9.5k resistance sometime in September. After that, we look to break $10.6k with a run at $11.5k before breaking back down again.
We are a lot farther away from ATH's than most think and my bags are loaded for another big trip south. Ignore the noise and follow the chart, I will lead you "past go".
- PennyBag
After further analysis and zooming out a bit, this is how I see Bitcoin PA playing out for the foreseeable future on the 1W chart. Initially I thought we were following a path to a more rapid selloff, but this consolidation looks a lot like what we saw Jun 19' - Sep 19', even with the timeline almost aligning to the month.
Horizontal resistance at $9.5k has proven to be the top many times, and this time doesn't look to be any different. I see us running down to $7.1k, consolidating sideways for a bit, then breaking the $9.5k resistance sometime in September. After that, we look to break $10.6k with a run at $11.5k before breaking back down again.
We are a lot farther away from ATH's than most think and my bags are loaded for another big trip south. Ignore the noise and follow the chart, I will lead you "past go".
- PennyBag