Hello dear crypto friends, this is my first iOS analysis, so let’s see how it goes!
BTC is currently in this clear downward channel which cannot go on forever/will see a break coming.
If we continue downwards, we could still go towards the previously lows at around 9,2-9k.
But note that the more we fall, the higher the probability will be for a bullish breakout.
Since we’re falling down so steep, we can always breakout, e.g. up to 10k, and just keep going down more smoother.
So a bullish breakout is no guarantee for trend reversal, since steep channels/wedges are the weakest form of trend reversal anyways.
Give it a thumbs up if you had some value, I wish you a good trading!
BTC is currently in this clear downward channel which cannot go on forever/will see a break coming.
If we continue downwards, we could still go towards the previously lows at around 9,2-9k.
But note that the more we fall, the higher the probability will be for a bullish breakout.
Since we’re falling down so steep, we can always breakout, e.g. up to 10k, and just keep going down more smoother.
So a bullish breakout is no guarantee for trend reversal, since steep channels/wedges are the weakest form of trend reversal anyways.
Give it a thumbs up if you had some value, I wish you a good trading!
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