Hello Friends, Traders and Interested,
with this TA a quick statement to BTC 0.35% and where we are.
Over the past few days, I've seen a lot of people here who think - after the strong breakout last Thursday - that BTC 0.35% has broken out of the big downtrend channel . I say no - or better -not yet.
I have been very bullish for a long time, but since February 18 ,at the latest, I have had to change this position to bearish .
And BTC 0.35% has not reached the turnaround to bullish in my view yet.
See chart: the black bottom line I have set at a significant low from 24.03.2017. The red line was drawn symmetrically starting from the ATH -0.84% from Dec. 2017 over all subsequent highs. And BTC 0.35% has by no means broken out on this line.
How will BTC 0.35% continue? It can be seen that the two lines close at the end of April / beginning of May 2018. At the latest then the further way should be clearer. Until then, I am still "rather" bearish . Of course, there is a possibility that we may break out in the next few days either over the red upper limit or the lower black limit.
Currently I think (unfortunately) a break down for more likely.
Okay, we have to wait and see.
As always no trading advice, just educational.
Trade on your own risk and trade safe.
Yours, Sascha
A Like and a Follow makes me happy.
with this TA a quick statement to BTC 0.35% and where we are.
Over the past few days, I've seen a lot of people here who think - after the strong breakout last Thursday - that BTC 0.35% has broken out of the big downtrend channel . I say no - or better -not yet.
I have been very bullish for a long time, but since February 18 ,at the latest, I have had to change this position to bearish .
And BTC 0.35% has not reached the turnaround to bullish in my view yet.
See chart: the black bottom line I have set at a significant low from 24.03.2017. The red line was drawn symmetrically starting from the ATH -0.84% from Dec. 2017 over all subsequent highs. And BTC 0.35% has by no means broken out on this line.
How will BTC 0.35% continue? It can be seen that the two lines close at the end of April / beginning of May 2018. At the latest then the further way should be clearer. Until then, I am still "rather" bearish . Of course, there is a possibility that we may break out in the next few days either over the red upper limit or the lower black limit.
Currently I think (unfortunately) a break down for more likely.
Okay, we have to wait and see.
As always no trading advice, just educational.
Trade on your own risk and trade safe.
Yours, Sascha
A Like and a Follow makes me happy.
Note
Important: I used for this analysis the logarithmic scale. When working with long term TAs it is necessary to use the log scale, because time and Price must be in realistic relation.And please watch the chart again zoomed out: Hmm, I see a bear flag:
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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.