BITCOIN AND ITS PLAUSIBLE FUTURE IN THE MID TERM;
what has happened so far?
- Bitcoin has been through a heck of a downtrend on the daily time frame since November 2021 after it's ATH.
- We successfully found support at the 33k to 35k range support but specifically at the 33100 mark on January 25,2022. This was a daily hold level with in that range. 35k was a weekly hold level.
- using this support we were able to stop the outrageous distribution for a bit by breaking the 3 months downtrend.
- now we have an uptrend forming trying to attack the valley at 51k for the mid term.
what to expect?
- if BTC holds against the 41900 critical support range and we break the immediate downtrend, we could potentially see a rally to the 45k and 48k ranges with a maximum target of 50k ranges.
- if the critical support at 41900 is broken then we could see a dump in price to the 36k to 38k ranges.
NFA. I am quite bullish on BTC for the midterm.
credit belongs to my mentor and teacher @c0tt0nc4ndyTA. i learnt from him.
terms mentioned in this analysis are not of my own making.
thank you
what has happened so far?
- Bitcoin has been through a heck of a downtrend on the daily time frame since November 2021 after it's ATH.
- We successfully found support at the 33k to 35k range support but specifically at the 33100 mark on January 25,2022. This was a daily hold level with in that range. 35k was a weekly hold level.
- using this support we were able to stop the outrageous distribution for a bit by breaking the 3 months downtrend.
- now we have an uptrend forming trying to attack the valley at 51k for the mid term.
what to expect?
- if BTC holds against the 41900 critical support range and we break the immediate downtrend, we could potentially see a rally to the 45k and 48k ranges with a maximum target of 50k ranges.
- if the critical support at 41900 is broken then we could see a dump in price to the 36k to 38k ranges.
NFA. I am quite bullish on BTC for the midterm.
credit belongs to my mentor and teacher @c0tt0nc4ndyTA. i learnt from him.
terms mentioned in this analysis are not of my own making.
thank you