บิทคอยน์ลดลง
Bitcoin is Knocking @ 7400. Where to?
Bitcoin has once again returned to a point of decision. Where will it go? Camping just under 7400, Bitcoin must soon make up its mind. It to pre-pandemic levels, or once again crashing to the mid 4000s?
First things first, let's define the trend lines sprawling amongst this chart.
In green we have a multiyear bullish trend channel, marking the mean price movement of Bitcoin since 2013. This channel marks a bullish channel where Bitcoin could take off once more, IF it can get there...
In pink we have a bearish trend channel starting at 13k from June 2019. This is the current channel Bitcoin has been trending in.
The is the important channel, as we are currently testing the resistance of the trend. In a moment I will explain where it may go in a bullish scenario.
Th white downward trend line demarcates descending triangle. Again, if Bitcoin breaks the pink bearish channel, the white line is another point of interest I will explain in a moment.
Last but not least, we have the orange S/R areas. The upper orange support is 7600, which marks a strong S/R over the last 2 years. The lower support is 3800 which was significant to the bottom of the 2018 bear market.
With that out of the way, let's get to the real analysis.
I will identify two scenarios: bull & bear
Bull: Bitcoin breaks the pink downward channel @ 7600. From there I expect it to test the 7800 resistance marked by the Orange Support, and from there potentially the 8300 resistance area.
Bear: Bitcoin fails to break the pink downward channel and it corrects to the bottom of the channel in parts. The first support to test will be 6000, which is a local support. If it breaks that it will likely fall to 5500 and test the resistance that preceded the run to 13000 in June 2019. It that fails, then it will fully test the bottom of the pink channel at 5100.
In a bearish scenario I am expecting this to act as Accumulation before the halving. This will give enough power to push Bitcoin back up to 7700 and beyond post-halving 2020!
First things first, let's define the trend lines sprawling amongst this chart.
In green we have a multiyear bullish trend channel, marking the mean price movement of Bitcoin since 2013. This channel marks a bullish channel where Bitcoin could take off once more, IF it can get there...
In pink we have a bearish trend channel starting at 13k from June 2019. This is the current channel Bitcoin has been trending in.
The is the important channel, as we are currently testing the resistance of the trend. In a moment I will explain where it may go in a bullish scenario.
Th white downward trend line demarcates descending triangle. Again, if Bitcoin breaks the pink bearish channel, the white line is another point of interest I will explain in a moment.
Last but not least, we have the orange S/R areas. The upper orange support is 7600, which marks a strong S/R over the last 2 years. The lower support is 3800 which was significant to the bottom of the 2018 bear market.
With that out of the way, let's get to the real analysis.
I will identify two scenarios: bull & bear
Bull: Bitcoin breaks the pink downward channel @ 7600. From there I expect it to test the 7800 resistance marked by the Orange Support, and from there potentially the 8300 resistance area.
Bear: Bitcoin fails to break the pink downward channel and it corrects to the bottom of the channel in parts. The first support to test will be 6000, which is a local support. If it breaks that it will likely fall to 5500 and test the resistance that preceded the run to 13000 in June 2019. It that fails, then it will fully test the bottom of the pink channel at 5100.
In a bearish scenario I am expecting this to act as Accumulation before the halving. This will give enough power to push Bitcoin back up to 7700 and beyond post-halving 2020!
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน