Hello, dear TradingView members.
This idea is a Bitcoin analysis.
I won't make this long. The chart already says it all, but here is a short description:
So the 17K-20K area is the support we have for now, which we have been waiting for, for the last few months.
Our local resistance is the 23K area, which can be experienced once more.
Now that we are here, there are only two possible scenarios.
We will fall more until we get to the 10K-14K price zone.
We will go up, but first, consolidate on this price zone for months.
RSI hints at Oversold, but it still has room to go lower.
Also, I would stop looking at the EMA and MA indicators for now in the weekly charts. They won't work for now.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
This idea is a Bitcoin analysis.
I won't make this long. The chart already says it all, but here is a short description:
So the 17K-20K area is the support we have for now, which we have been waiting for, for the last few months.
Our local resistance is the 23K area, which can be experienced once more.
Now that we are here, there are only two possible scenarios.
We will fall more until we get to the 10K-14K price zone.
We will go up, but first, consolidate on this price zone for months.
RSI hints at Oversold, but it still has room to go lower.
Also, I would stop looking at the EMA and MA indicators for now in the weekly charts. They won't work for now.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
Trade active:
What if Bitcoin falls below $17,000?
What then?
Here is a chart of the three possible scenarios in that situation.
What then?
Here is a chart of the three possible scenarios in that situation.
