BitcoinUpdated BTC - Broke the downtrend channel, whats next?
BTC broke the downtrend channel, bull divergence played in our favor.
Next resistence is 6700.
Next support is 6250
A possibility of double bottom [not confirmed yet]
just like the one which we saw in April
Confirmation at breaking the neckline
Still a long way to go for a confirmed reversal
but there are signs of sellers getting exhausted
and losing momentum. Also there is no significant
volume yet
Patience will get rewarded.
Next resistence is 6700.
Next support is 6250
A possibility of double bottom [not confirmed yet]
just like the one which we saw in April
Confirmation at breaking the neckline
Still a long way to go for a confirmed reversal
but there are signs of sellers getting exhausted
and losing momentum. Also there is no significant
volume yet
Patience will get rewarded.
Note
Bull Flag formation on 4 hr time frame.Note
Bull Flag breakout played out to the perfection with our analysis.
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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.