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Bitcoin

The descending channel on btc is wider than originally thought

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Now that we have had a bounce from yesterday’s big red candle I was able to find two new parallell trendlines that essentially widened the descending channel price has been consolidating in. We need price to get back above the red line soon however for that is a double top neckline, a double top with a full breakdown target of 70k, so we definitely wanna avoid triggering that breakdown by getting price action back above the red line ASAP. *not financial advice*
DrDovetail
1daychartBitcoin (Cryptocurrency)BTCBTCUSDChart PatternsDescending ChanneldoublletopTechnical IndicatorsnecklinepriceactionTrend Analysis

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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.
1daychartBitcoin (Cryptocurrency)BTCBTCUSDChart PatternsDescending ChanneldoublletopTechnical IndicatorsnecklinepriceactionTrend Analysis
DrDovetail

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.