Recently I posted a chart of the inverse chart of Bitcoin. The chart and corresponding analysis led to some interesting comments and discussions, see below.
The prior analysis ended up correct, and we saw a 35% rise in value since the last analysis. The ascending triangle broke out and we're currently in a strong bullish trend.
In my view, there's little to stop this trend until we reach the top dotted resistance line. This would bring BTC to a value of (give or take) $11k.
The $11k area is in line with my worst-case scenario for BTC, which is an 85% drop. 85% is important because we've dropped around 85% from high to (bear market) low in the last cycles.
Looking at the inverse chart of BTC might offer a different perspective of the market, which is always useful.
The prior analysis ended up correct, and we saw a 35% rise in value since the last analysis. The ascending triangle broke out and we're currently in a strong bullish trend.
In my view, there's little to stop this trend until we reach the top dotted resistance line. This would bring BTC to a value of (give or take) $11k.
The $11k area is in line with my worst-case scenario for BTC, which is an 85% drop. 85% is important because we've dropped around 85% from high to (bear market) low in the last cycles.
Looking at the inverse chart of BTC might offer a different perspective of the market, which is always useful.
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🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.