Which channel would bitcoin like to continue on?
Updated
According to my amateur af technical analysis skills, We see bitcoin in a small descending channel within an ascending channel within a widening wedge.
If we drop below 48K and don't immediately make the jump back up above that, I expect a pretty decent drop today.
Worth noting that from the top of the descending channel to the floor of the widening wedge is an identical sized drop that BTC had from its ATH. (-22%)
this is absolutely not financial advice.
DISCUSS!
If we drop below 48K and don't immediately make the jump back up above that, I expect a pretty decent drop today.
Worth noting that from the top of the descending channel to the floor of the widening wedge is an identical sized drop that BTC had from its ATH. (-22%)
this is absolutely not financial advice.
DISCUSS!
Note
BTC just poked out of the descending channel after running up from 49.6K to 50.6K in about two minutes time and it didn't seem to like being outside of the descending channel, the pump stopped as soon as it poked out and rejected back into the downward channel. Still have yet to break the bottom of the ascending channel however. will continue to watch closely.
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.