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!
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Hi
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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 ...
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Thanks, I was thinking of buying, will wait
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