My past analysis posted 1/15 has been invalidated, as I had been way too hasty to accept a temporary trendline reclaim as a major technical development. In reality it broke back down, and I was forced to exit trade. But I am still bullish based on the fact that instead of a harsh drop to the 20k range as everyone has been predicting, BTCUSD has simply printed a triangle formation. This indicates strong buying+accumulation pressure - it seems to me that BTC is simply recharging and recoiling for a next leg up.
-Upside break would see continued price discovery. My first targets in this bullrun are $65,000 - $75,000 (see my past analysis if interested as to my methodology)
-Downside break will see a support at 30k, which is the trendline support for the beginning of this bull market before we went vertical. We could still see 20k-25k, who knows.
The best part about trading triangles is that we know a break in either direction is always soon - so we don't have to wait much longer!
Fundamentally - I see 2021 as a potentially strong year for BTC regardless of administrative direction in the US. If they pass more stimulus relief, inflationary concerns will rise PM+crypto. If they fail to get it passed, economic depression will continue and crypto will rise amidst those concerns as well. That is my personal view.
-Upside break would see continued price discovery. My first targets in this bullrun are $65,000 - $75,000 (see my past analysis if interested as to my methodology)
-Downside break will see a support at 30k, which is the trendline support for the beginning of this bull market before we went vertical. We could still see 20k-25k, who knows.
The best part about trading triangles is that we know a break in either direction is always soon - so we don't have to wait much longer!
Fundamentally - I see 2021 as a potentially strong year for BTC regardless of administrative direction in the US. If they pass more stimulus relief, inflationary concerns will rise PM+crypto. If they fail to get it passed, economic depression will continue and crypto will rise amidst those concerns as well. That is my personal view.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.