1H
- Currently, the BTC is very bullish, so it cannot go down much and is taking a side step instead of adjusting. We've faced short-term downward trendline resistance, and we'll probably go down a little and then break through again.
Note
After breaking through the downtrend channel yesterday and reaching the first TP, rising around $500, it came back inside the short-term downtrend channel but rebounded again with support for the blue uptrend line. And drawing a short-term falling wedge pattern (purple triangle) and currently breaking through the top of the wedge and rising.
Like the blue trend line, triangular convergence is underway at the same time, and as the lateral movement has been prolonged, the possibility of further increase is high.
Trade closed: target reached
Up Over $800, Final TP ReachedRelated publications
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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.