Here's where I see Bitcoin going next.
As the US elections and the FED rate cuts come closer, the macro conditions are getting ready for a Bitcoin breakout.
Here's the explanation for the TA:
Descending Channel: Bitcoin has been trading within a downward channel. However, there's potential for a bullish breakout if the price moves above the channel's upper resistance, which is around $65k.
Key Support at
52K-$53K: This level has provided strong support, preventing further declines.
Rounded Bottom: The price action is forming a rounded bottom pattern, a bullish reversal signal, suggesting that the downtrend might be coming to an end.
RSI Indicator: The RSI around 49.85 indicates a neutral momentum, but the upward movement suggests a possible shift towards a bullish trend.
If Bitcoin breaks out of the descending channel and holds above $53K, it will trigger a significant upward move, and perhaps the start of a new bull run.
As the US elections and the FED rate cuts come closer, the macro conditions are getting ready for a Bitcoin breakout.
Here's the explanation for the TA:
Descending Channel: Bitcoin has been trading within a downward channel. However, there's potential for a bullish breakout if the price moves above the channel's upper resistance, which is around $65k.
Key Support at
Rounded Bottom: The price action is forming a rounded bottom pattern, a bullish reversal signal, suggesting that the downtrend might be coming to an end.
RSI Indicator: The RSI around 49.85 indicates a neutral momentum, but the upward movement suggests a possible shift towards a bullish trend.
If Bitcoin breaks out of the descending channel and holds above $53K, it will trigger a significant upward move, and perhaps the start of a new bull run.
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.
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.