MicroStrategyLong
Don't Change That Channel Part 2
I did not make the first channel high enough. So, this is an update. I threw in an auto pitch fork that seems to validate the thesis.
We did take a run out the top of the channel and the shorts pushed the price back inside our seemingly durable path. Let's see what happens.
We did take a run out the top of the channel and the shorts pushed the price back inside our seemingly durable path. Let's see what happens.
Note
After the false breakout the price is firmly back inside the channel. The underlying bitcoin is still bullish despite some profit taking by sellers holding 6-12 months. When that selling subsides, the upward move is likely to resume.
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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.