It seems BTC is forming some sort of parallel channel with a series of higher lows (being supported by the 50 ma on 12H) and a series of higher highs. Therefore, with the recent dump, BTC is still in its uptrend.
But, if we lose the bottom of the channel/50ma on 12H, BTC will start its first major correction of the cycle.
But, if we lose the bottom of the channel/50ma on 12H, BTC will start its first major correction of the cycle.
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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.