BITCOIN Deeper Correction before the next long term buy
Hello everyone:
I haven't update bitcoin for a while since the last bearish move down where I sold my previous hold position.
Now that the price developed more on the lower time frame, its show a bit more structure now.
We can see price did broke the all time high briefly, before a short lower time frame impulse out of the ascending channel.
Latest price action on the LTF show a continuation correction in the making.
What I expect is to see short term bearish move down to the previous low area, formed a deeper correctional structure, and reverse from the bottom to continue the bullish trend that we have seen.
Personally not into the short term sell, but certainly has potential to the downside.
IF we get see price move down to the previous lows and form reversal price action from the bottom, then that's would be very good bullish continuation entry to get in.
Thank you
Related publications
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.