Looking back at my all time BTC chart we see a clear channel support established where BTC has historically seen a reversal. For several weeks we have been riding right up that line. While we might expect to continue predominantly sideways movement for a several more weeks, a potential bottom appear to be establishing and as long as support continues to hold we can expect a breakout eventually, but more importantly an end to the year+ bloodbath. This is how it played out in 2015 and I will be watching for some of the same this year.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.