Bitcoin - Important Long-term chart!
Regarding the market, we have observed an exciting dynamic, bitcoin seems to continue its consolidation and Ethereum finally got its act together and broke above the last high. I will explain this in the Ethereum update in greater detail, check it out!
Additionally, many altcoins experience a significant inflow of buyers and as of now it seems that Fantom leads the market. The only thing I have to say about bitcoin is that the current consolidation may extend for another few days but as I repeatedly said in the last updates, we should break above 30’000$ in the near future.
Our alternative scenario of another wave (1) – wave (2) setup remains on the chart as long as we trade below the 1.618 extension at 28’720$.
To finish things up for today, a lot of investors messaged me privately about our long-term count in bitcoin . In the past we chose to publish this chart and because of the demand we would like to publish this chart again. The whole count since the last Cycle Top (1) can be seen below, feel free to ask questions if needed.
Bitcoin Index 2D Long-term chart
If you should face problems with the scaling of this chart, the normal scaled chart can be seen below.
Please note that we are already invested in Bitcoin since the 15th of June 2022, back then we announced our first positions here on tradingview.
Long Bitcoin ( BTCUSD )
AVERAGE EXECUTION PRICE: 20’714.20$
STOP-LOSS: NONE
LONGTERM TARET: +120’000$
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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