The 2020 BTC halving helped pushed the price higher again but it didn't pierced the major downward trend line that begins since the all time high in 2017.
I still believe there is a good chance it won't in the short term, which could present all with a good opportunity to buy at lower levels.
Could price go around fib level 0.5 (<30%) before going higher? Maybe. And which could be the beginning of the formation of an handle in a multi week Cup and handle pattern.
I still believe there is a good chance it won't in the short term, which could present all with a good opportunity to buy at lower levels.
- Major trend line resistance that goes back to 2017 all time high
- Multi week ascending wedge ( bearish )
- Weaker momentum with RSI
Could price go around fib level 0.5 (<30%) before going higher? Maybe. And which could be the beginning of the formation of an handle in a multi week Cup and handle pattern.
Note
So far so good... let's see how this develops going forward
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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.