BTC: HISTORY SHOWS WHALE BUYING AFTER DM LEVELS: TARGET 47K
History trends demonstrate that powerful whales tend make significant purchases during moments of downward trends. However, it is important to note that not every downward trend indicates a bear market confirmation.
As of now, BTC (Bitcoin) is still a contender for a long-term trend, with a high possibility of returning to the level of 27K and potentially reaching a target of 30K. Furthermore, according to technical analysis (TA), there is a good chance that BTC could target $47K in the long run.
An overview of BTC indicates the presence of a cyclical trend that may allow BTC to break out above $30K in the near future. On the date of June 5, 2023, we observed a minor dip in BTC's trend from the 27K level. Sometimes, it is crucial for BTC to establish new liquidity during such periods.
The impact of the Chinese market remains significant, especially considering the upcoming trends on other exchanges in Hong Kong over the next few days. We will closely monitor BTC's progress in the foreseeable future to ascertain its ability to confirm these trends.
For day traders, it is interesting to observe BTC confirming the 28K view before making any further decisions.
We did learn from the history that the real price changes and breakouts coming from the breakdown dips as also the chart shows. (BTC)
DM levels are very important for the trend, and BTC have a DM level at this moment.
As of now, BTC (Bitcoin) is still a contender for a long-term trend, with a high possibility of returning to the level of 27K and potentially reaching a target of 30K. Furthermore, according to technical analysis (TA), there is a good chance that BTC could target $47K in the long run.
An overview of BTC indicates the presence of a cyclical trend that may allow BTC to break out above $30K in the near future. On the date of June 5, 2023, we observed a minor dip in BTC's trend from the 27K level. Sometimes, it is crucial for BTC to establish new liquidity during such periods.
The impact of the Chinese market remains significant, especially considering the upcoming trends on other exchanges in Hong Kong over the next few days. We will closely monitor BTC's progress in the foreseeable future to ascertain its ability to confirm these trends.
For day traders, it is interesting to observe BTC confirming the 28K view before making any further decisions.
We did learn from the history that the real price changes and breakouts coming from the breakdown dips as also the chart shows. (BTC)
DM levels are very important for the trend, and BTC have a DM level at this moment.
Comment:
There is a growing trend in purchasing structures for Bitcoin (BTC) at the price of 22,000. This trend reinforces the belief that a new cycle for BTC is imminent, and it suggests that the next target price is likely to be 47,000.
BTC's price trajectory does not follow a linear upward trend; there are often periods of panic or volatility before reaching major target levels. This pattern has been observed in numerous previous instances when BTC reached all-time high targets.
BTC's price trajectory does not follow a linear upward trend; there are often periods of panic or volatility before reaching major target levels. This pattern has been observed in numerous previous instances when BTC reached all-time high targets.
For day traders, it is crucial to confirm the timeframe before making any trading decisions.
We have seen in any bullmarket that there was first a fake downtrend before the real increase.
There is good chance BTC will enter a new breakout up the 30K coming time.