This is just a long term view at BTC. As you can see, BTC has seen its share of pumps and dumps consistently throughout history. If I could zoom out further, it would show more of the same dating back to the beginning of bitcoin. I will update this chart periodically.
Looking at the chart, we have denied the $7600USD range again, as I pointed out in my last post about a month ago
The next resistance from a long term perspective is just below $9,000USD. How we get there is the question. I see two possibilities long term:
possibility #1: BTC creates new support at 7K level and bounces between $7,500 USD and $7,000USD. Then, a reach up just under the round number of $9,000. If it reaches past $9,000USD it might jump straight to $11,000k as $9,000USD has served as a psychological barrier.
Possibility #2: BTC drops down to previous support line around $6500USD. At this point, it might create more downward pressure. A drop to $5,800USD would scream buy and I would be willing to take a risk at that point. It could drop further if it makes its way to $5,800, but I would be willing to gamble at that point. I suggest you DYOR and make decisions based on your own intuition. This is just my interpretation of information. If you like my insight, please leave a like and follow. Hodl on!
"Take time to deliberate; but when the time for action arrives, stop thinking and go in." - Andrew Jackson
Looking at the chart, we have denied the $7600USD range again, as I pointed out in my last post about a month ago
The next resistance from a long term perspective is just below $9,000USD. How we get there is the question. I see two possibilities long term:
possibility #1: BTC creates new support at 7K level and bounces between $7,500 USD and $7,000USD. Then, a reach up just under the round number of $9,000. If it reaches past $9,000USD it might jump straight to $11,000k as $9,000USD has served as a psychological barrier.
Possibility #2: BTC drops down to previous support line around $6500USD. At this point, it might create more downward pressure. A drop to $5,800USD would scream buy and I would be willing to take a risk at that point. It could drop further if it makes its way to $5,800, but I would be willing to gamble at that point. I suggest you DYOR and make decisions based on your own intuition. This is just my interpretation of information. If you like my insight, please leave a like and follow. Hodl on!
"Take time to deliberate; but when the time for action arrives, stop thinking and go in." - Andrew Jackson