BTC LONG TERM VIEW

14 Eyl 2023

BTC can still drop from here, especially if price continues to trade below 29k by the end of this month. As long as price trades above 26.5k, BTC can continue to go up and fill the current imbalance left on the 3 day and weekly chart towards 28.5k. Bearish chances are small from here, but if price breaks below 25.5k, then we could see a potential liquidation of those current lows from 25k. Overall BTC will become very bullish once the orders from 29k are exhausted and price breaks and closes above that level. 38k is the main target after that, but until then, we need more data from the higher timeframe charts.