BitcoinLong
BTC Hourly Downward Channel, Break Coming!
Hello dear crypto friends, this is my first iOS analysis, so let’s see how it goes!
BTC is currently in this clear downward channel which cannot go on forever/will see a break coming.
If we continue downwards, we could still go towards the previously lows at around 9,2-9k.
But note that the more we fall, the higher the probability will be for a bullish breakout.
Since we’re falling down so steep, we can always breakout, e.g. up to 10k, and just keep going down more smoother.
So a bullish breakout is no guarantee for trend reversal, since steep channels/wedges are the weakest form of trend reversal anyways.
Give it a thumbs up if you had some value, I wish you a good trading!
BTC is currently in this clear downward channel which cannot go on forever/will see a break coming.
If we continue downwards, we could still go towards the previously lows at around 9,2-9k.
But note that the more we fall, the higher the probability will be for a bullish breakout.
Since we’re falling down so steep, we can always breakout, e.g. up to 10k, and just keep going down more smoother.
So a bullish breakout is no guarantee for trend reversal, since steep channels/wedges are the weakest form of trend reversal anyways.
Give it a thumbs up if you had some value, I wish you a good trading!
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