Hello All,
Here is what I see for BTC (warning: yearlong consolidation period)
1) BTC bounced on support at the top-most trendline (high $6Ks), where the 50 day MA is acting as further support. Weekly candles being as bearing as they are, the train does not stop here.
2) BTC falls through weak support at first trendline / 50 day MA. The next longterm trendline is around high $4Ks, low $5Ks. Each green dot represents a point of reversal. The first green dot touches the second longterm trendline and reaches up to the $5800s (a potential double bottom, slightly lower than Feb. low of $5900).
*Floating green dot*) BTC might find support around the high 3Ks, when it touches 100 day MA. We have never had a reversal in this area before - buyers have not spent their ammo here (making a reversal more likely).
3) BTC most likely finds support at third trendline / support from 200 day MA in the high 2Ks.
*2013 High*) An ugly scenario for most, but BTC most likely finds support around $1200 (top of first major wave in 2013).
Here is what I see for BTC (warning: yearlong consolidation period)
1) BTC bounced on support at the top-most trendline (high $6Ks), where the 50 day MA is acting as further support. Weekly candles being as bearing as they are, the train does not stop here.
2) BTC falls through weak support at first trendline / 50 day MA. The next longterm trendline is around high $4Ks, low $5Ks. Each green dot represents a point of reversal. The first green dot touches the second longterm trendline and reaches up to the $5800s (a potential double bottom, slightly lower than Feb. low of $5900).
*Floating green dot*) BTC might find support around the high 3Ks, when it touches 100 day MA. We have never had a reversal in this area before - buyers have not spent their ammo here (making a reversal more likely).
3) BTC most likely finds support at third trendline / support from 200 day MA in the high 2Ks.
*2013 High*) An ugly scenario for most, but BTC most likely finds support around $1200 (top of first major wave in 2013).
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.