BTC prices have been consolidating below the monthly resistance for almost 3 months. This is bullish.
In my opinion, a bull flag is being formed. My strategy is as follows:
Actually, I'm waiting dips at lower prices to increase my bags. But I'm ready for both scenarios.
My mid-term take profit will be around $100,000 when prices hit the long-term weekly trendline. For long-term target, I've already posted my analysis (see link below) with cycle target around $120,000 but this would be ajusted to higher one. I may update this long-term analysis in the future.
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
In my opinion, a bull flag is being formed. My strategy is as follows:
- If a monthly candle closes above the monthly resistance trendline, it's a BUY signal.
- A better BUY would be when price falls to the lower range of the current flag, around $57000 - $59000.
Actually, I'm waiting dips at lower prices to increase my bags. But I'm ready for both scenarios.
My mid-term take profit will be around $100,000 when prices hit the long-term weekly trendline. For long-term target, I've already posted my analysis (see link below) with cycle target around $120,000 but this would be ajusted to higher one. I may update this long-term analysis in the future.
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
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Update: BTC is heading the range' lows
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Down side is still on-going. I expect a weekly close at $63000
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Latest Weekly candle closed at $63100 as expected. Actually, this is my weekly support level. Now BTC continues the downway to the expected liquidity area. I'll wait for reaction around $57000-$59000 range to decide if I'll open Longs.
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BTC has been reaching the Liquidity level. I've bought BTC around $59000 and will add more if price goes to $57000.
Other altcoins are added in my bag: FET, INJ, PEPE, KNC at this level.
Other altcoins are added in my bag: FET, INJ, PEPE, KNC at this level.
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BTC bounces back when touching the liquidity area. If the current weekly candle closes above $64200, it's a very bullish signal.
If not, a revisit of the support of the channel with possible deviation can still happen in the coming weeks. This is another opportunity to increase your bags.
Be ready for both scenarios.
If not, a revisit of the support of the channel with possible deviation can still happen in the coming weeks. This is another opportunity to increase your bags.
Be ready for both scenarios.
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BTC hasn't made any big move since the drop to $60000s
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In low Time-Frame, we can have this view :
