Hey guys, BTC might have found new support on the 2H (yellow). We'll see if it holds, if not, the red line would be the next significant support which has acted as resistance and support since October 2020. My parabolic approach (blue) is pretty chewed up, so chances are we might consolidate in this area for now. And did anybody notice the Head and Shoulders pattern that almost formed to completion? Could have resulted in trend reversal ^^
No financial advice, just my opinion.
No financial advice, just my opinion.
Note
I can also see this purple Channel on the 1H Chart.Note
The yellow line broke and now acts as resistance as it was already tested one more time. Due to the new "Baby Head&Shoulders" Pattern that just broke down we might see the downside playout as predicted by hitting the red longterm trendline.
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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.