BitcoinUpdated BTC Logarithmic Channels - Parabolic and Resting
Parabolic Channel - Yellow
Resting Channel - White
I believe we are going to be trading in this Resting Channel for some time before we see another Parabolic move. That said, there is still significant upside to the resting channel around $36,500. If for the first time we were to get rejected at the top of the resting channel it could potentially send us all the way back to around $6,200 before we rebound. Once the top of the resting channel is broke, we might pass the moon and go strait to mars.
Resting Channel - White
I believe we are going to be trading in this Resting Channel for some time before we see another Parabolic move. That said, there is still significant upside to the resting channel around $36,500. If for the first time we were to get rejected at the top of the resting channel it could potentially send us all the way back to around $6,200 before we rebound. Once the top of the resting channel is broke, we might pass the moon and go strait to mars.
Note
Not to far off from what I predicted. Do you think the rest will play out?
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Disclaimer
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.