Quick video update on the market. Correction and consolidation is healthy. We have to see if we have the ability to start building a foundation for a push higher - or if the market will experience weakness in the coming months.
I posted a couple of very bullish charts recently (including one where Bitcoin could end up past $50K sometime this summer), but things like that are only possible if certain conditions are met.
Didn't mention this in the video, but daily RSI is hitting a support level that has (in the last couple of months) meant that price was ready to move up. You can see that circled here:
Additionally, some areas to watch out for Bitcoin as support are:
$7800
$7500
$7200
$7000
$6800
If 6800 falls convincingly, I think a longer bottoming period might need to play out.
This video is not financial advice, and I am not a professional financial advisor.
-Victor Cobra
I posted a couple of very bullish charts recently (including one where Bitcoin could end up past $50K sometime this summer), but things like that are only possible if certain conditions are met.
Didn't mention this in the video, but daily RSI is hitting a support level that has (in the last couple of months) meant that price was ready to move up. You can see that circled here:
Additionally, some areas to watch out for Bitcoin as support are:
$7800
$7500
$7200
$7000
$6800
If 6800 falls convincingly, I think a longer bottoming period might need to play out.
This video is not financial advice, and I am not a professional financial advisor.
-Victor Cobra
