BTC is currently in a channel
We are at a decisive point right now
If we manage to break the down trend, we should expect a move to resistance trend of the channel
If we break down we should expect a move to support of the uptrend on the daily timeframe
We are at a decisive point right now
If we manage to break the down trend, we should expect a move to resistance trend of the channel
If we break down we should expect a move to support of the uptrend on the daily timeframe
Note
Zoomed in on the hourly timeframe we are in a symmetrical triangle
Note
BTC chose to go down and we are at support trend on the daily
We have strong support here, bullish RSI divergence and oversold
we can expect a retrace to $7386 at least
it is likely to have a reversal on the daily TF but we need more information to have an idea about that
Note
We didn't manage to break $7270 resistance and the sell-off continued
Now we have bullish RSI divergence, RSI on the 4h TF oversold
If we manage to break $6800 resistance we should expect a retrace to $7083
Note
We didn't manage to break resistance but It looks like BTC is forming a falling wedge right now
If we break resistance trend of falling wedge i expect a strong move towards the downtrend
Note
Falling wedge didn't play outWe have some random price action going on last few days
let's wait for more information
Note
If $6.3K support is broken, expect more downwards movement
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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.