The main question is whether Bitcoin is within the accumulation or redistribution range?
I think we are in redistribution.
If we assume that we were dealing with the structure of accumulation, we should be in the phase D or E
, but I think there are some mistakes with the accumulation structure, which I showed in the chart.
On the other hand, BTC crossed the downtrend channel .
We have to wait and see if Bitcoin will be able to break up the significant resistance it is currently facing or not.
I think we are in redistribution.
If we assume that we were dealing with the structure of accumulation, we should be in the phase D or E
, but I think there are some mistakes with the accumulation structure, which I showed in the chart.
On the other hand, BTC crossed the downtrend channel .
We have to wait and see if Bitcoin will be able to break up the significant resistance it is currently facing or not.
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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.