As you can see from the daily chart, Bitcoin has reached a turning point. Solid long-term support from below and at the end of a wedge formation. Any day now Bitcoin will have to make a decision and I expect it to be the start of the next bull run for Bitcoin and Crypto as a whole.
Bitcoin is classed as a 'Currency' but is traded as a 'Commodity'. What you need to remember is there is only a limited supply of Bitcoin and with rarity comes increased value.
My expectation for Bitcoin is to next head for $54500 before another correction.
Bitcoin is classed as a 'Currency' but is traded as a 'Commodity'. What you need to remember is there is only a limited supply of Bitcoin and with rarity comes increased value.
My expectation for Bitcoin is to next head for $54500 before another correction.
Nota
Price exploded as expected. We did manage to break the daily 200EMA but we still closed below. There was a lot of buying pressure and I feel the drop after was not actual short-trades but actually profit-taking for a quick trade.The very positive side though is we have closed ABOVE the wedge.
I am still bullish.
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.
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.