BitcoinUpdated Are we trying to form an upward trendline?
I know, I know, Conrad you've got it all wrong... we are going to zero... all schools of analysis point to a downtrend... I say, fine, you are probably smarter than I am.
But if you use standard charting tools you can draw out an upward channel that we are attempting to hold here in the short term. I'm just pointing this out. I've used the following chart to put in a few swing trades and made a decent amount (despite the crazy Bitcoin transaction fees). In my estimation, we should continue on this upward trend until we swing back into FOMO - one way or another.
Pure speculation. Trade at your own risk.
But if you use standard charting tools you can draw out an upward channel that we are attempting to hold here in the short term. I'm just pointing this out. I've used the following chart to put in a few swing trades and made a decent amount (despite the crazy Bitcoin transaction fees). In my estimation, we should continue on this upward trend until we swing back into FOMO - one way or another.
Pure speculation. Trade at your own risk.
Note
But wait! Weekend price action gets into high gear and BTC drops right out of the channel. Let's see which way this goes and set up limits and stops.Note
No - BUT maybe? At least we are hitting those Camarilla levels perfectly! Which also line up with my prior drawn out levels perfectly. Note
And apparently Bitcoin REALLY likes the upward trendline:
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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.