BTC analysis 17 July 2021
The price has been going side ways for 2-3 months now.
For long term trend investing/trading
Bullish - we break 42000USD on the daily, we will go to 48 000USD.
Bearish - we break 29000USD on the daily, we will go down to 20 000USD (Previous ATH).
For short term outlook - referring to the chart posted, we have a bullish set up for a falling wedge with ABCDE wave down. The price rejected the 31950 level 2 hours ago and unable to break out. The price is currently falling, but break out would be confirmed if the top trendline is broken. However I am expecting a long at 30 850 USD level. Breaking down this level will invalidate the set up and looking at the support lines below.
We have the following support - 30 000USD, 29 000USD. Dont enter now and wait for confirmation.
Cheer and enjoy the weekend.
LZ
For long term trend investing/trading
Bullish - we break 42000USD on the daily, we will go to 48 000USD.
Bearish - we break 29000USD on the daily, we will go down to 20 000USD (Previous ATH).
For short term outlook - referring to the chart posted, we have a bullish set up for a falling wedge with ABCDE wave down. The price rejected the 31950 level 2 hours ago and unable to break out. The price is currently falling, but break out would be confirmed if the top trendline is broken. However I am expecting a long at 30 850 USD level. Breaking down this level will invalidate the set up and looking at the support lines below.
We have the following support - 30 000USD, 29 000USD. Dont enter now and wait for confirmation.
Cheer and enjoy the weekend.
LZ
Comment:
Break 31800USD will be bullish short term :)
Comment:
Comment:
lets see