BTC To 9250?

24 сент. 2020 г.

MY THINKING: I believe BTC is about to hit 9250 due to a few factors. First off, you can see that BTC just recently hit support at 10k before having a small but ultimately failed rally up to 11k. Logically it would make sense to retest 9250 instead of attempting another rally off of the 10k support line. Gold and stocks are also tentative at the moment, and it is important to note that the half-baked euphoria in the markets that we have seen for the past few months is largely dissipated at this point.

THE OTHER SIDE: BTC is still trending upwards, and is posting higher highs. This is quite bullish, and we are already almost out of September, which historically has not been great for crypto. One thing to note however is that the latest rally to 11k could be seen as an attempt to reach a higher high instead of just a price fluctuation before it does so. If that is the case, then it is likely that we will indeed go lower.

I have never posted an idea before, and I have very little pride in my trading skills, so if you disagree please let me know and explain why. I really want to keep learning and improving and if my thinking is flawed I would love to improve. Thanks for reading and have a great day!