After reaching a new ATH of ~$7800, Bitcoin started to see issues with a sharp decline in network hashrate due to miners picking the favourable Bitcoin Cash.
However, after a series of harsh drops comes a recovery. Rising from the ashes of its counterpart, BCH (which has dropped $1000 recently), Bitcoin is ready to go after people have burned their run on Cash. A falling wedge pattern confirms this. MACD signal about to cross suggesting a reversal as well with the start of a rise for the OBV.
I believe after this, and once the dust settles with Cash and miners start returning to Bitcoin, we'll be ready to see $7000 again. I myself set a long position just under $6000 whilst simultaneously shorting Cash from ~$1550.
In short (ha, get it? More like long!): long Bitcoin. We'll see $7000 and Cash will soon decline to confirm this. To me it looks like the next supports are $5700 and just above $5400, but I doubt we'll decline that.
If you like what I post, feel free to join my Discord: discord.gg/V7rMHBs - always enjoy hearing from others :)
However, after a series of harsh drops comes a recovery. Rising from the ashes of its counterpart, BCH (which has dropped $1000 recently), Bitcoin is ready to go after people have burned their run on Cash. A falling wedge pattern confirms this. MACD signal about to cross suggesting a reversal as well with the start of a rise for the OBV.
I believe after this, and once the dust settles with Cash and miners start returning to Bitcoin, we'll be ready to see $7000 again. I myself set a long position just under $6000 whilst simultaneously shorting Cash from ~$1550.
In short (ha, get it? More like long!): long Bitcoin. We'll see $7000 and Cash will soon decline to confirm this. To me it looks like the next supports are $5700 and just above $5400, but I doubt we'll decline that.
If you like what I post, feel free to join my Discord: discord.gg/V7rMHBs - always enjoy hearing from others :)
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.