BITCOIN could see a price @ 80,000 in the next couple of weeks.

14 Eyl

https://www.tradingview.com/x/gynvp7Wx/

I know some have written-off Bitcoin at least in 2024. I never did because what you often see on Wall-street when banks and financial institutions have a bad day with their share price, its's the cryptocurrency sector that usually shines.

Bitcoin has been helped along in its price by a head 'n' shoulders pattern on the daily chart & in the past couple of days has pushed higher in it's price considerably. At the moment 60,400.

Bitcoin's 4 year in the making weekly-chart cup 'n' handle pattern is ready to pop, price now only 20% below the neckline.

Now, if the US-Dollar breaks out next week as measured by the USDX-index, and I still have this compulsive urge that it will happen prior to FOMC next Thursday, after which the USD could seriously tank under $1 on an interest rate cut, well I believe that assets like Gold would initially sell-off on an interest rate reduction but I am not so sure about Cryptocurrency, in fact I think it could shine.

Some are saying it's going to sell from here. I see 80,000 in a short space of time.

* My own views and not to be taken as financial advice. At time of writing I have long positions in Bitcoin, ZRXUSD and DOGEUSD.

14 Eyl

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Here is a comparison 4hr chart of btcusd

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14 Eyl

İşlem aktif

An update to the idea of a Long-Position.
Bitcoin, Ethereum, Ox / USD, Solana, Bitcoin Cash, DogeUSD (these are the ones I checked) are all still in an OVERSOLD condition on a weekly timeframe basis.

This is exactly the time you want to be moving into the market as a Buyer, during this OVERSOLD time because divergence is occurring where DEMAND is starting to flow back into these Crypto's or whatever you trade.

Also, at the time you make a Buy-Order at this oversold time, you are acquiring the stock, currency, metal, crypto on a VALUE-BASIS because you have bought in at a greatly reduced price which is where the Crypto family is at present.

I see more upside in holding onto Cryptocurrency than even Gold at the moment. Gold is at an all-time high & I was very reluctant to Buy into Gold despite the charts telling me it was a green-light to buy gold, I still have this idea that the US currency is about to break-out.

However, many of the Crypto's are so far off their 2024 highs. For example, ZRX USD OX is 400% below its high set in March of this year. I see the volume is okay in Ox so it is regularly traded by buyers and sellers.

This all feeds in with the theory to Buy Low & Sell High.

14 Eyl

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Bitcoin's Hourly Chart. Price inside of Bollinger Bands...purple