Hello TradingView, today I'll be updating my previous analysis on
BTCUSDT
, the good news is we could be approaching our first buy zone.
Inside my previous analysis, we predicted BTC to hit $18,000 if $29,000 was lost. Now It's important to consider what potential outcomes can come as we sit at $18,000. H1 (orange support on chart) was set in 2019 and hasn't been touched. We are approaching the same level which could potentially act as a strong support zone, which if held will most likely lead to a run toward $33,000, if it doesn't hold I believe we will sell off to $13,970 with a potential retest of $18k range to confirm downtrend (back to $13,970, $12k then $6.6k if levels are lost).
Overall, I do have buy zones in mind and plan to act on them. It's likely that retail & institutional traders will start reacting to these buy zones, ultimately leading to our next cycle going into 2024.
This is my personal analysis and is for educational purposes only. Please do your own research and be responsible.
DCJ
BTCUSDT
, the good news is we could be approaching our first buy zone. Inside my previous analysis, we predicted BTC to hit $18,000 if $29,000 was lost. Now It's important to consider what potential outcomes can come as we sit at $18,000. H1 (orange support on chart) was set in 2019 and hasn't been touched. We are approaching the same level which could potentially act as a strong support zone, which if held will most likely lead to a run toward $33,000, if it doesn't hold I believe we will sell off to $13,970 with a potential retest of $18k range to confirm downtrend (back to $13,970, $12k then $6.6k if levels are lost).
Overall, I do have buy zones in mind and plan to act on them. It's likely that retail & institutional traders will start reacting to these buy zones, ultimately leading to our next cycle going into 2024.
This is my personal analysis and is for educational purposes only. Please do your own research and be responsible.
DCJ
Comment:
FYI $6k is unlikely, but possible. I'm not counting on it but it's not out of the books. We all really don't understand the magnitude of fear selling until it hits, and unfortunately I don't think this is the bottom (at $18k).
