BTC had a fake breakout to the upside over the weekend, spike in BTCUSD SHORTS, and now broke down from the same symmetrical triangle on the Daily chart following a fall from an ascending channel on the 4H chart last night.
I think it is very much premature to measure the pole for this downfall. So I am only measuring the depth of the triangle that takes us down to 24k challenging for the first time BTC history where it never reached down this close to a previous cycle's ATH. I have my bids laddered between 26k to 24k, with a prayer to go north from there. The 24k happens to be the 1W 100EMA, which should serve as a strong support for now.
I understand the sentiment in the market is very bearish, still I am not. But nevertheless, I trade what the charts say, not what fortune tellers want me to believe. Let's see how this plays out.
I think it is very much premature to measure the pole for this downfall. So I am only measuring the depth of the triangle that takes us down to 24k challenging for the first time BTC history where it never reached down this close to a previous cycle's ATH. I have my bids laddered between 26k to 24k, with a prayer to go north from there. The 24k happens to be the 1W 100EMA, which should serve as a strong support for now.
I understand the sentiment in the market is very bearish, still I am not. But nevertheless, I trade what the charts say, not what fortune tellers want me to believe. Let's see how this plays out.
Unless you figure a way to make money while you sleep, you’ll work till you die.
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.
Unless you figure a way to make money while you sleep, you’ll work till you die.
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.