BTC has broken the longterm downtrend channel, but is not out of the water yet. The red dotted line is the previous high from 3-21, and until that high is broken, BTC will remain in a down trend. BTC is also consolidating in a rising flag pattern. With the ETH and LTC pump I would expect to see a BTC pump as well. If a breakout occurs, it could be the start of a macro uptrend, which I will happily buy into. Until then, I'm waiting for confirmation of a breakout, in which case I will go long, or breakdown.
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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.