NoBIAS

Bitcoin Weekly HTF Analysis

Long
BITMEX:XBTUSD.P   Bitcoin
1: Closing a weekly over 9591, the mid-point will take us towards 11.5

2: Once we get to 11.5, if 9591 on the weekly is not tested before the move up, we should see a significant retracement

3: Getting over 11.5 one final time after the retracement to 9591, we should see some sort of rejection from 14K and then a retracement back down to 11.5 - to confirm if the bull/bear market EQ is properly gained

4: Thereafter I see us hitting the long-awaited zone at 17.5, which is the failure move. Once gained, we can see Bitcoin finally making a new TREND, breaking away from the 2 years long down-trend LEG

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.