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Bitcoin price analysis

Bitcoin price analysis

We left the falling wedge after coming close with the base so a reversal to the start of the wedge is expected which would be 6700 USD price range where if we break 6800 USD resistance we should move to 7k area. Some indicators:

Stoch RSI oversold bullish signal

Confirmed the falling wedge reversal with the bounce and expected rise to the top

Declining volume over long term, breakout anywhere nearby

Bitcoin corrections are not called corrections but are its accumulation phases for the next big breakout, even if we break to 4800 USD area this is not crash, one thing you should keep in mind is its real long term trend since its price less than 1$ and if to look at that trend its bottom can reach till 4000 USD area and even if a trend is broken, the technology Bitcoin bring to the money management world is so far unique and the technology can never be crashed and will always find its value as innovations are the most valuable assets in this era. My next graph will not be crypto but will be about a company which has had fall more than BTC ever had but never called a crash and is one of the world leading tech (even more than tech now) companies now so there you go technology sooner or later finds its value.

Source: Trading view


Editor-in-Chief @Coindaily_co and Bitcoin enthusiast

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