BitcoinUpdated BTCUSD: downtrend channel was broken upwards
The downtrend channel from 8.1k was broken upwards, which was preceded by an accumulation period around 7k for a relatively long time. If the price could hold above the top of the previous channel, there is a high chance of the realization of the accumulation to the upside. Watch for the breakdown to be confirmed.
Note
Not bad. After a short side-trade, I thought it might be a bull-flag (do those patter still work in our Bart-Simpson-like market?), but currently it is rather fast for it, yet the price goes up, chances to a rally increase.Note
Yesterdays's breakout was a false one, the price returned to the previous channel. Probably, one could explain the action with the news from SEC about bitcoin ETFs.
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.
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.