Just a simple short-term idea after the major correction
Bitcoin has completed its 0.618 major correction.
I think the price will not exceed the red resistance line AND will be traded in the shaded triangle + rectangle price range temporarily.
$20000 is also a major resistance which we failed to break last time.
Here is evidence supporting my view:
1. We have just failed to break the major resistance $20000 which means that we have to consolidate to prepare for our next bull run.
2. The good news(COBE & CME bitcoin future ) is past tense . We lack good news to support our bull run.
3.1 Christmas & New Year is coming so the selling pressure will be large as investors demand legal tender to celebrate.
3.2 Institutional investors have reached their annual profit targets and they lack motivation to buy it continuously until there is a clear buying signal
Thank you for your support.
Merry Christmas! :)
I think the price will not exceed the red resistance line AND will be traded in the shaded triangle + rectangle price range temporarily.
$20000 is also a major resistance which we failed to break last time.
Here is evidence supporting my view:
1. We have just failed to break the major resistance $20000 which means that we have to consolidate to prepare for our next bull run.
2. The good news(COBE & CME bitcoin future ) is past tense . We lack good news to support our bull run.
3.1 Christmas & New Year is coming so the selling pressure will be large as investors demand legal tender to celebrate.
3.2 Institutional investors have reached their annual profit targets and they lack motivation to buy it continuously until there is a clear buying signal
Thank you for your support.
Merry Christmas! :)
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.