BitcoinUpdated Bitcoin Explained
Above is a summed up analysis into the forces that currently push the stock down to legitimate consolidation levels.
– All MAs are above the stock
– A channel scenario is likely to fail, a triangle equally so
– Any rise in value is accompanied by very low volume
– Constant lower highs and lower lows
– Note that the entire drop-force is pushing on the low side of the triangle (suggesting a weak exit force)
(lines and connections have been averaged using step-line over log)
– All MAs are above the stock
– A channel scenario is likely to fail, a triangle equally so
– Any rise in value is accompanied by very low volume
– Constant lower highs and lower lows
– Note that the entire drop-force is pushing on the low side of the triangle (suggesting a weak exit force)
(lines and connections have been averaged using step-line over log)
Note
Could be yet another re-test of 8.2k before descending
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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.
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.