Will there be a rocket up to 100k?
I want to answer this question right away, for me it's only a matter of time. Of course it will be and even higher
In my opinion, we are seeing consolidation after a strong uptrend, which is normal for financial instruments. And this is even more normal than the volatility we have seen in previous years
At the moment, to continue growth, it is important for us to keep the price above 50,000. If this does not happen then we will go to the next level of support and this is 40,000 and this may mean that we will change the consolidation and go into the downtrend. And I don't think it's the job of big money to let the price go so low
As we can see from the current test of the support level, the volumes are already much smaller, that is, there are fewer people willing to sell.
Locally our task with the current one is to return and make another attempt at the 60,000 test
On one of the senior timeframes we can observe a convergence that has not yet formed but has been playing for a very long time
For now I assume that the support level will hold and we will be able to make another approach to exit the consolidation breakout point is 65.000 and this breakout can send the price to new highs
I wish you all good trading, stay safe and try to use spot))
In my opinion, we are seeing consolidation after a strong uptrend, which is normal for financial instruments. And this is even more normal than the volatility we have seen in previous years
At the moment, to continue growth, it is important for us to keep the price above 50,000. If this does not happen then we will go to the next level of support and this is 40,000 and this may mean that we will change the consolidation and go into the downtrend. And I don't think it's the job of big money to let the price go so low
As we can see from the current test of the support level, the volumes are already much smaller, that is, there are fewer people willing to sell.
Locally our task with the current one is to return and make another attempt at the 60,000 test
On one of the senior timeframes we can observe a convergence that has not yet formed but has been playing for a very long time
For now I assume that the support level will hold and we will be able to make another approach to exit the consolidation breakout point is 65.000 and this breakout can send the price to new highs
I wish you all good trading, stay safe and try to use spot))
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.