reversal higher for now. Short time frame chart (15 minute) so take that into consideration of what "bullish" and "bearish" mean on the chart. Showing Bitfinex chart here, which got uniquely stomped (good reason not to trade on this exchange versus others). Channels help dictate general trend direction - but the longer we remain weak, the more it looks like this bear market will continue well into the year. Best advice is to keep some fiat in hand for capitulation dips. Remember, the easiest way for large positions that want long exposure is to buy a capitulation candle where there is significant liquidity for their buys to fill without significant slippage.
Note
Channels are often very good for short-term swinging, those shown currently in play:[IMG]
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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.