YES BTC IS IN A DOWNWARD TREND, BUT HAS TO BREAK SOME TIME, AND DUE TO TOUCH TOP SIDE OF DOWNWARD CHANNEL...THIS IS THE SAME CHART I HAVE POSTED SEVERAL TIME, SO LOTS OF PERSONAL NOTATIONS...SORT OF "BUSY", LOTS OF MOVING AVERAGES OVER-LAID FROM DIFFERENT TIME FRAMES...AND YES BTC WOULD HAVE TO BREAK PAST THEM,
BUT...
I DID NOTICE A BULL FLAG ON THE 3 DAY TIME FRAME AND MACD AND STOCHS ON 3 DAY ARE BOTH ON A FRESH TURN UPWARD. A RUN UP TO $8000-$8500 IS POSSIBLE IF A FLAG IS IN PLAY. BUT COULD HIT THOSE MARKS AND FALL TO THE BOTTOM OF THE CHANNEL AGAIN BEFORE TAKING OFF IN FEB 2020. JANUARY IS TYPICALLY A DOWN MONTH.
LOTS OF MOVING AVERAGES TO BREAK THRU, BUT ANYTHING IS POSSIBLE, COULD EVEN BE A BULL TRAP, BUT TRADE-ABLE WITH GOOD STOP LOSS PLACEMENT, AND WATCH THE 3 DAY FOR ANOTHER CLOSE TO SEE IF COMING TOGETHER.
JUST SOMETHING I SAW IN THE CHART
BUT...
I DID NOTICE A BULL FLAG ON THE 3 DAY TIME FRAME AND MACD AND STOCHS ON 3 DAY ARE BOTH ON A FRESH TURN UPWARD. A RUN UP TO $8000-$8500 IS POSSIBLE IF A FLAG IS IN PLAY. BUT COULD HIT THOSE MARKS AND FALL TO THE BOTTOM OF THE CHANNEL AGAIN BEFORE TAKING OFF IN FEB 2020. JANUARY IS TYPICALLY A DOWN MONTH.
LOTS OF MOVING AVERAGES TO BREAK THRU, BUT ANYTHING IS POSSIBLE, COULD EVEN BE A BULL TRAP, BUT TRADE-ABLE WITH GOOD STOP LOSS PLACEMENT, AND WATCH THE 3 DAY FOR ANOTHER CLOSE TO SEE IF COMING TOGETHER.
JUST SOMETHING I SAW IN THE CHART
Note
OOPS!! TYPO, BULL FLAG
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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.