BTC long-term: POTENTIAL SCENARIO!!
Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
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I post short mid and long-term trade setups too.
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I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#BTC
$BTC is currently trading at the $17400 Level.
As per the chart strong holding support $17200 Level which is good for the Bulls.
The next Resistance is $18400 which is also the retest level of the Last breakdown Support.
I am expecting some Rejection from that level and we can see some more Downside move.
But now we can see some upward movement in short term.
My Resistance levels:- $18400-$19000
Support:- $16500 - $17200
Analysis
- I have taken fractals from the past, 2019, from historical price action that we refer to as an 'echo bubble'.
- According to the fractals, one possible scenario is that we tap $14k, before making a 100% move up to $28k.
- This would be a completely reasonable trajectory to have in mind, considering that we have seen a case for Bitcoin moving from $4k to $14k
- Eventually, we would peak around the summer of 2023, with everyone thinking that the macro bull market has resumed.
- Personally, if this speculative scenario plays out, I would revert back to holding a massive cash position until the dust settles again.
- People, including myself, thought we'd never get back below 20k, and here we are now, with people calling for $7k.
Comment your view in the comment section and stay tuned, I will keep updating BTC in the different time frames.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#BTC
$BTC is currently trading at the $17400 Level.
As per the chart strong holding support $17200 Level which is good for the Bulls.
The next Resistance is $18400 which is also the retest level of the Last breakdown Support.
I am expecting some Rejection from that level and we can see some more Downside move.
But now we can see some upward movement in short term.
My Resistance levels:- $18400-$19000
Support:- $16500 - $17200
Analysis
- I have taken fractals from the past, 2019, from historical price action that we refer to as an 'echo bubble'.
- According to the fractals, one possible scenario is that we tap $14k, before making a 100% move up to $28k.
- This would be a completely reasonable trajectory to have in mind, considering that we have seen a case for Bitcoin moving from $4k to $14k
- Eventually, we would peak around the summer of 2023, with everyone thinking that the macro bull market has resumed.
- Personally, if this speculative scenario plays out, I would revert back to holding a massive cash position until the dust settles again.
- People, including myself, thought we'd never get back below 20k, and here we are now, with people calling for $7k.
Comment your view in the comment section and stay tuned, I will keep updating BTC in the different time frames.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Comment:
Comment:
Comment:
#BTC
IMO better to stay away from the market and wait for some confirmation.
IMO better to stay away from the market and wait for some confirmation.
Comment:
going well
going well
