Short Term Outlook: Bearish
Long Term Outlook: Bullish
Things are not looking good for Bitcoin as it continues to fail on breaking out past these resistance levels. Most notably the range from $37.5k - $40k.
Zooming out to the Weekly you can see a bear pennant starting to form up. Now, if the bulls fail to have a sustained breakout then we could expect the price to revisit $30k, with a flush to $28k (Long position liquidation).
On the Weekly timeframe, the 50 ema is currently hovering around $26k. That would be where I set up short with trailing stops.
Also, this is not financial advice.
Long Term Outlook: Bullish
Things are not looking good for Bitcoin as it continues to fail on breaking out past these resistance levels. Most notably the range from $37.5k - $40k.
Zooming out to the Weekly you can see a bear pennant starting to form up. Now, if the bulls fail to have a sustained breakout then we could expect the price to revisit $30k, with a flush to $28k (Long position liquidation).
On the Weekly timeframe, the 50 ema is currently hovering around $26k. That would be where I set up short with trailing stops.
Also, this is not financial advice.
Not
Weekly ChartNot
The Volume on the Daily tells the story.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.