Bitcoin Update - New Year
Hi guys!
I think the chart can talk for itself. You can see that there's a trendline, which has been respected by BTC several times. As long as that doesn't break, I will not be bearish. You can see that we can spot a divergence, that's pretty clear too. So let's summarize what we see on the chart.
- Divergence = RSI is making higher lows than the Bitcoin price.
- Bitcoin seems to react on the trendline.
- A bullish reversal pattern is in its formation.
- 2 key levels that need to be broken.
- Back in October, we had the "same" situation. Divergence + 2 key levels that needed to be broken. When that happened, we went up almost 70%. If this happens again, then we will hit our 70K target.
Conclusion:
There's literally no need to panic as long a Bitcoin doesn't break the trendline.
Don't forget to support this idea by giving it a like!
I think the chart can talk for itself. You can see that there's a trendline, which has been respected by BTC several times. As long as that doesn't break, I will not be bearish. You can see that we can spot a divergence, that's pretty clear too. So let's summarize what we see on the chart.
- Divergence = RSI is making higher lows than the Bitcoin price.
- Bitcoin seems to react on the trendline.
- A bullish reversal pattern is in its formation.
- 2 key levels that need to be broken.
- Back in October, we had the "same" situation. Divergence + 2 key levels that needed to be broken. When that happened, we went up almost 70%. If this happens again, then we will hit our 70K target.
Conclusion:
There's literally no need to panic as long a Bitcoin doesn't break the trendline.
Don't forget to support this idea by giving it a like!
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