Bitcoin Analysis and Trading Idea

[bitman007]

Hello Fiends , Hope all doing great with Crypto , specially Bitcoin,  as it is king and we need to know always about bitcoin , so based on the last two weekly closings, BTC must break lower low within the next 20 days if it wants to go down. Failure to break lower is unlikely (give it a 25% chance). Entire market is oversold except Bitcoin.

From the technical perspective BTC has the best setup for further breakdown within the mentioned period. If it does, the crash will be your opportunity to buy extremely cheap ALTs.
In addition the second half of September is full of significant events, so high volatility is expected.

Look at this giant triangle. Every time when we get to the bottom of the triangle, it gets completely defended, but sooner or later 6k zone will not hold the price.
SEC postponed ETF, short term became bullish. As i  wrote on 14 Sep, there is possibility of going to 7k.
In order to turn bullish mid term, we need weekly closing above previous swing high of 7450.

📌 Important dates for Bitcoin:
19 Sep: CBOE Futures Expiration
21 Sep: Direxion ETF Final Deadline
28 Sep: CME Futures Expiration
30 Sep: CBOE VanEck /SolidX ETF Deadline

 

[icoinvesting]

As for me, now is a good time to buy. I do not think Bitcoin should go down, so you can get something to play on it.