Short term trend looks to be down for BTC
Bitcoin may pull back a bit here before ultimately going higher...
As I mentioned numerous times in my recent posts, bitcoin is likely to go higher than this over the next couple years...
However, in the very near term, it may due for a bit of a pullback first.
In the short term we just broke an uptrend line and have plenty of room to the downside to around the $20k area...
Check it out:
(Source: https://twitter.com/PEAKDEFI/status/1559910511483011072/photo/1)
I don't expect the price to break the previous lows around $18k, but it may retest em.
For me personally I am expecting a pullback to the $20k area and that's where I will be looking to get long again in my trading account. My long term holds are still holds and not something I trade on little dips like this one.
Great Crypto post. We've reshared it.
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Upvoted! Thank you for supporting witness @jswit.
I feel $16k would be the area for a stop still $18k as you said would be a very nice opportunity for longs if appears. Also SP500 at its weekly trendline resistance so a pullback possibility is much higher.
Agreed. The fact that bitcoin has been lagging stocks lately doesn't give me much confidence right here, especially if we get a pullback in stocks...
I think that this will get a leg up with ETH about to merge
I honestly don't see how bitcoin can go up with the economy the way it is, and the fact the banks keep talking about CBDCs.
I some how doubt they plan to have central bank digital currencies and then have open and free systems along side them.
Yea, well most of these things won't really be used for payments is my guess. They will be utility tokens to participate in the ecosystem or investments.
Ahh yes this is a good point, i think you could be right there.