Short Term Outlook: Bearish
Long Term Outlook: Bullish
Things are not looking good for Bitcoin as it continues to fail on breaking out past these resistance levels. Most notably the range from $37.5k - $40k.
Zooming out to the Weekly you can see a bear pennant starting to form up. Now, if the bulls fail to have a sustained breakout then we could expect the price to revisit $30k, with a flush to $28k (Long position liquidation).
On the Weekly timeframe, the 50 ema is currently hovering around $26k. That would be where I set up short with trailing stops.
Also, this is not financial advice.
Long Term Outlook: Bullish
Things are not looking good for Bitcoin as it continues to fail on breaking out past these resistance levels. Most notably the range from $37.5k - $40k.
Zooming out to the Weekly you can see a bear pennant starting to form up. Now, if the bulls fail to have a sustained breakout then we could expect the price to revisit $30k, with a flush to $28k (Long position liquidation).
On the Weekly timeframe, the 50 ema is currently hovering around $26k. That would be where I set up short with trailing stops.
Also, this is not financial advice.
Nota
Weekly ChartNota
The Volume on the Daily tells the story.
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.