🅱️ Bitcoin | Short-Term: Safe Above $25,000 ($15K Not Possible)

Short-term, Bitcoin (BTCUSDT) is safe above $25,000.

Recently we saw a shakeout move and this is confirmed by the quick recovery that followed.

There is another attempt at selling pressure yet Bitcoin continues trading within a higher low.

✔️ As long as Bitcoin remains trading above $25,000, the short-term perspective remains bullish.

✔️ If it goes below this level then the bullish bias short-term is lost.

✔️ Mid-term Bitcoin stays 100% or more bullish above $22,222 / $23,000.

✔️ Finally, Bitcoin stays bullish long-term above $20,000. These are the main levels to look for.

If $20,000 fails, we can consider the bearish perspective.

Any trading above these levels can be considered short-term noise.

Patience is key!

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This is not financial advice.
I am sharing my opinion and views of the charts/markets.

All the information is shared here for learning and/or entertainment purposes only.
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Thanks a lot for your support.

Namaste.

Kommentera:

Some people might still have doubts about the current situation with Bitcoin but this might help to clear them.

We have an "upthrust", which is the initial move follow by a "corrective pattern".

The correction is a move counter to the initial move or trend.

From mid-March through mid-April we have another "upthrust", clearly seen on the chart followed by another correction.

The corrective patterns are quite clear.

We do not have a downward impulse nor new lows, rather a correction of the upthrust.

After the correction we should see a resumption of the initial move... Does that makes sense?

We will see Bitcoin at $35,000 is August 2023 and possibly $38,000 November 2023.

Namaste.