I am of the belief that bitcoin will retest around the 60,000 mark but you also have to consider the 200 day trailing around 20,000..
The 2017 all time high may need to retest but of course we cannot predict that as of now.
We are in a consolidation wedge, that is slightly tilted upward.
We could end up breaking up or down out of this wedge.
I’m going to expect at some point that 200 day needs to be tested, we just have no idea when that will be.
I don’t think this a reason to either sell or short bitcoin, but to be mindful that 20k is in range.
Below are some ideas from the past, good and bad analysis.
Happy Trading.
The 2017 all time high may need to retest but of course we cannot predict that as of now.
We are in a consolidation wedge, that is slightly tilted upward.
We could end up breaking up or down out of this wedge.
I’m going to expect at some point that 200 day needs to be tested, we just have no idea when that will be.
I don’t think this a reason to either sell or short bitcoin, but to be mindful that 20k is in range.
Below are some ideas from the past, good and bad analysis.
Happy Trading.
