In the Blue channel you can see the widening ascending rally channel that BTC has been in since Oct! WOW.
the Green channel is another wedge channel that it has been playing in the 4H chart and it has reached decision time now.
in my opinion either of the Red or Orange scenarios could go through. personally I think the sooner the correction happens the easier and less dramatic the long term bullish path can go ahead otherwise.
in either case I wouldn't consider the bull run to be over as long as we don't get a daily close below 37.5 K which is the EMA 50 as well.
Lastly, Due to many bull and bear traps ahead (expect Funda garbage like Elon's twits or SEC statements) by no means go to any high leveraged position.
let me know what you think and as always... not a financial advice.
the Green channel is another wedge channel that it has been playing in the 4H chart and it has reached decision time now.
in my opinion either of the Red or Orange scenarios could go through. personally I think the sooner the correction happens the easier and less dramatic the long term bullish path can go ahead otherwise.
in either case I wouldn't consider the bull run to be over as long as we don't get a daily close below 37.5 K which is the EMA 50 as well.
Lastly, Due to many bull and bear traps ahead (expect Funda garbage like Elon's twits or SEC statements) by no means go to any high leveraged position.
let me know what you think and as always... not a financial advice.
Trade active
Seems like it has decided to take the Orange pathTrade active
It went with the Orange Path. close to 1st target. Watch stoploss close to that level.Trade active
it could either bounce from this area or touch test all the way down to 40K and then rise up.
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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.