BitcoinUpdated Channel Cross or bottom retest, January is pivotal !
On Balance Volume looking healthy, but price action needs to confirm completion of accumulation with a break above the middle of the Donchian channel. Keep this time frame in mind! 1W candles are better for long term investors looking for entries than day trades.
Note
at the middle channel cross today! holding this level and a retest in the coming weeks would suggest a few touches of the top of the channel, currently ~11K. failing to cross the midline likely means another touch of the bottom channel, around ~6.5K. GL
Note
The trade has worked great, I am considering adding here on the dip below 10K, and will definitely setup an order to buy at ~$10,000 - $10,100 if BTC rebounds. To me this looks like a buyable dip. Long BTC.
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.
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.