A very clear Head and Shoulders is visible in BTC's weekly chart.
📍If the neckline could not hold the price, it can be broken and the 3 TPs of the head and shoulders are shown further in the chart
📍 The first TP is the middle of the long-term regression channel which is around 25k and a very important price level and support zone.
📍 The latest fundamental NEWS aren't actually very positive either, as there are rumors that the institutional investors are looking forward to sell bitcoin in this price level
📍 Another very important factor is the DXY (Dollar Index Chart) which seems very bullish and we can assume that the crypto-currency may need a coll-off for the next bull-run
⚠️ corona-virus was another key factor which helped the crypto-currencies and helped them show their power, now when the vaccination is about to happen globally and the lock-downs have decreased vastly we can assume that the Bitcoin and other crypto-currecnies need to cool-off...
ALL THE STATEMENTS ABOVE ARE MY POINT OF VIEW
PLEASE DO NOT TAKE ANY LONG OR SHORT POSITION BASED ON MY ANALYSIS
Ask me your questions and or problems
I would be very happy to know your opinions
📍If the neckline could not hold the price, it can be broken and the 3 TPs of the head and shoulders are shown further in the chart
📍 The first TP is the middle of the long-term regression channel which is around 25k and a very important price level and support zone.
📍 The latest fundamental NEWS aren't actually very positive either, as there are rumors that the institutional investors are looking forward to sell bitcoin in this price level
📍 Another very important factor is the DXY (Dollar Index Chart) which seems very bullish and we can assume that the crypto-currency may need a coll-off for the next bull-run
⚠️ corona-virus was another key factor which helped the crypto-currencies and helped them show their power, now when the vaccination is about to happen globally and the lock-downs have decreased vastly we can assume that the Bitcoin and other crypto-currecnies need to cool-off...
ALL THE STATEMENTS ABOVE ARE MY POINT OF VIEW
PLEASE DO NOT TAKE ANY LONG OR SHORT POSITION BASED ON MY ANALYSIS
Ask me your questions and or problems
I would be very happy to know your opinions
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