If you're long term on cryptos this is one of the worst places to sell because it's sitting right on top of the trend line defined by historical miner capitulation.
People waiting for 3k are going to be disappointed. This line also expects the support region to be at the old all time high in April 2021 which means it will probably reach and exceed the old all time high long before then.
Using a parallel channel it would be reasonable to see a high of at least 40k between now and then.
Continued downside on BTC is looking pretty sketchy at this point and I am strongly expecting a short covering rally to be the next major feature on the weekly chart.
People waiting for 3k are going to be disappointed. This line also expects the support region to be at the old all time high in April 2021 which means it will probably reach and exceed the old all time high long before then.
Using a parallel channel it would be reasonable to see a high of at least 40k between now and then.
Continued downside on BTC is looking pretty sketchy at this point and I am strongly expecting a short covering rally to be the next major feature on the weekly chart.
