We are in the middle of the final shakeout before the May. We have two long term trends at play.
We have the trend line that started from the Dec 2018 bottom, which later acted as support for the 2019 bottom and is likely to catch us again in this month around the 8000-8300 range.
We also have the downward trend that began at the Dec 2017 top and was met again for the June 2019 top. This is strong resistance, however the upcoming bitcoin halving should give it enough buy side pressure to break through. Target of 12k at the halving.
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I am not a professional or financial adviser. This is for educational purposes only and is not advise to buy or sell.
We have the trend line that started from the Dec 2018 bottom, which later acted as support for the 2019 bottom and is likely to catch us again in this month around the 8000-8300 range.
We also have the downward trend that began at the Dec 2017 top and was met again for the June 2019 top. This is strong resistance, however the upcoming bitcoin halving should give it enough buy side pressure to break through. Target of 12k at the halving.
Please like this post if you found this information to be valuable. Please comment your thoughts below.
I am not a professional or financial adviser. This is for educational purposes only and is not advise to buy or sell.