brandonreymejia

brandonreymejia Updated 

Hello everyone, this is how I see Bitcoin in the long run. Looking at the weekly timeframe, I am still bearish on Bitcoin right now as it is still trading below the 200-EMA since June 16th, 2022. Also, we're currently in a technical recession after the FED of Atlanta has estimated a negative -2.1% for Quarter 2 of 2022. We already had a negative -1.6% decline...

brandonreymejia Updated 

Looking from the monthly timeframe since December of 2020 to today, I see a Cup and Handle formation. In April of 2021, Bitcoin made a new all-time high of $64,000, then a sell-off occurred going into the summer. At the start of Quarter 4 of 2021, Bitcoin had an uptrend again, this time testing the resistance level of the previous all time high from Spring of...

brandonreymejia

Hello everyone, so looking at the weekly timeframe, the price of Bitcoin is still below the 200-moving day average. The stochastic RSI is still oversold, meaning that I am still bearish on Bitcoin. On the other hand, today is July 1st, a brand new month for Bitcoin. Also, it's now Quarter 3 for the economy. Fears of recession and inflation are still looming, as we...

brandonreymejia Updated 

Looking at the weekly timeframe of Bitcoin, it looks pretty bad! Bitcoin is officially below the 200-day moving average, and the last time we saw that was during the Stock Market/Crypto Covid crash in March of 2020. Also, Bitcoin fell below the $25,755-$27,300 level, so the next support level would be $22,000-$23,000. If somehow and someway Bitcoin falls below...