Hey, Bitcoin trading in $55,600, which is +35% from last swing low, now breaking previous swing high with impressive move.
Take a closeup look on Post-Halving fractal (in 2020)
It look pretty similar to our current situation (Oct. 2021), and possible high demand on Bitcoin after breakout from $60,000, here is closeup chart:
Price sits above dynamic resistance and seems like $60,000 is a matter of 2 weeks.
If we manage to break ATH at 65,200 — price will fly to $80,000 - 100,000 in short period.
Daily Moving Average setup — looks semi-bearish / neutral, for now — DMA200 above DMA100 which is bearish. If Bitcoin price falls back inside triangle Bulls need to defend price at $46,000-44,000 to make a new ATH, otherwise price will fall lower.
Best regards
Artem Shevelev
Stay tuned for further updates.
Take a closeup look on Post-Halving fractal (in 2020)
It look pretty similar to our current situation (Oct. 2021), and possible high demand on Bitcoin after breakout from $60,000, here is closeup chart:
Price sits above dynamic resistance and seems like $60,000 is a matter of 2 weeks.
If we manage to break ATH at 65,200 — price will fly to $80,000 - 100,000 in short period.
Daily Moving Average setup — looks semi-bearish / neutral, for now — DMA200 above DMA100 which is bearish. If Bitcoin price falls back inside triangle Bulls need to defend price at $46,000-44,000 to make a new ATH, otherwise price will fall lower.
Best regards
Artem Shevelev
Stay tuned for further updates.
Note
If you interested in intraday timeframe, here is 1h live-chart, click to open
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.