BTC - Target $7,600 and important support
Disclosure: I have a long BTC position (long-term i.e. not for trading)
I think BTC / USD is in its corrective wave 2 with a target at $7,600.-
It will be important to see if the support line (red line) is broken or if BTC rebounds.
I favor a rebound with then the start of wave 3 and a target on the green resistance line.
In case you decide to go long on the support line make sure you have a stop-loss in place.
Legal Disclaimer: I am not a financial advisor. This article is only meant for use as informative or entertainment purposes. It is not a recommendation to buy or sell anything.
Thanks for this Post!
Hi
Let me add a chart with a bigger picture. So, I think BTC will test $7.6k and then rebound to $12k.
Alternatively, if it breaks the red line (support line) then -> $5k ...
Thanks, I was thinking of buying, will wait