Hello traders, today we take a look at good ol Bitcoin.
BTCUSD has been the talk of the town recently after the surge in the markets. Here is my outlook via the longterm for Bitcoin.
- Price has recently formed a 5D Demand Pivot in which I would like to see tested to generate buy liquidity & take out late buyers.
- If price reaches this pivot I expect a strong reaction via the bulls @ $3,920 USD. We do not want to see a Daily close below this level ongoing forward.
- If price does not reach Demand, that will be fine as long as we do not dump or trade below it at any time.
- First area of interest I am expecting a large rejection will be our $6,500 USD level in which I expect a bull trap to form via breakout $6,000 USD buyers.
- In the case price forms Bullish MS upon our Daily Supply we can expect targets within the $7,600-$8,800 USD Level
- Confluence via $8,800 USD being untaken highs via our downtrend in 2018. A tap @ $8,800 would certainly draw in the crowd and media for news tending towards a break to $10,000.
This is my outlook for Bitcoin // BTCUSD. I am expecting market to remain bullish with several shakeouts. Stay safe and enjoy!
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BTCUSD has been the talk of the town recently after the surge in the markets. Here is my outlook via the longterm for Bitcoin.
- Price has recently formed a 5D Demand Pivot in which I would like to see tested to generate buy liquidity & take out late buyers.
- If price reaches this pivot I expect a strong reaction via the bulls @ $3,920 USD. We do not want to see a Daily close below this level ongoing forward.
- If price does not reach Demand, that will be fine as long as we do not dump or trade below it at any time.
- First area of interest I am expecting a large rejection will be our $6,500 USD level in which I expect a bull trap to form via breakout $6,000 USD buyers.
- In the case price forms Bullish MS upon our Daily Supply we can expect targets within the $7,600-$8,800 USD Level
- Confluence via $8,800 USD being untaken highs via our downtrend in 2018. A tap @ $8,800 would certainly draw in the crowd and media for news tending towards a break to $10,000.
This is my outlook for Bitcoin // BTCUSD. I am expecting market to remain bullish with several shakeouts. Stay safe and enjoy!
Twitter - Telegram