BTCUSDT
BTCUSD
Hi guys.
Now we had a great dump for everything and in daily time frame we are a descending channel that now we are at the bottom. To my opinion because of weekly time frame we should back from here for many reason:
1- Alt coins have dumped a lot to BTC and also BTC has dumped a lot so alt coins are really interesting.
2- Now btc difficulty approximately is constant and because of halving btc price should rise till halving.
3- We are at the bottom of descending channel.
4- See reversal point of daily RSI.
So trough my analysis our S.L is about 6800 and our target is about 8400. Which price is good for buying BTC is your choice that which risk to reward ratio is tempting but I know that 7 ratio will seduce everyone so I will buy @ 7000 usdt.
Comment:
See this link for ascending channel BTC over these years