Updated

Bounce here, rejection at 51, support at 44? Or test 44 now?

Prior patterns point to the current price as enough support to move back up. A rejection at 51 could bring us out of the upward channel down around 43.5-44 as we enter September. This seems correlate with other ideas here as well.

Not financial advise. If we fall out of the current upward channel, then I will be exiting a few positions to reduce my exposure to further downside. At this point I don't believe this risk to be significant but you never know.

Note

Note

Although we have bounced here, it is likely that we will re-test this area of support and upward channel before moving up (or down, which is very unlikely). I'm moving my boxes out in the future but the relative location is the same.

Note

Now that we have bounced, there is a risk that we get rejected at 50k and head lower. If we clear 50, then holding that will be the challenge. Either way, most sentiment right now is a rejection and re-test of our lower support area.

Note

Not so fast! Back in the box we go.

chillcrypto

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chillcrypto

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