Based on the MACD crossing up on the daily, the bullish divergence on the 4H RSI and MACD and the support level touch of 6000-7000 on the weekly 50MA I predict a reversal of about 3-4 weeks.
Target is 8200, the major downtrend line, and should line up with the Weekly 50 MA and the weekly 16 EMA. After reaching the target I see further downside past the lows at 6000 to 4500 which is the weekly 100 MA. From there, at least a decent bounce, possibly a reversal for upside target of btc to 29K.
Target is 8200, the major downtrend line, and should line up with the Weekly 50 MA and the weekly 16 EMA. After reaching the target I see further downside past the lows at 6000 to 4500 which is the weekly 100 MA. From there, at least a decent bounce, possibly a reversal for upside target of btc to 29K.
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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.