The BTC is heading for an uptrend with a W bottom in the immediate vicinity.
From the latter half of July to August, we have avoided the plunge many times, but this W bottom is the starting point. Again this time, starting from this W bottom, it is important to see if the price can be pushed up from here.
Currently, they are in a state where they are competing in a chart pattern called the descending triangle, which cuts down the high price with a constant low price, and the key is to be able to clearly break above the high price devaluation line and the $11,550 horizon.
If you exit this line, I would like to set the loss cut line at $11,550 and then move up to $12,000.
On the other hand, if you fail this challenge and break out of the triangle pattern, you may drop to the horizon of $10,900 or the horizon of $10,500.
From a long-term perspective, BTC has entered a temporary adjustment phase in a completely upward trend. It's supported by the current price range, and attention is focused on whether it can resume the rise again to $14,000.
From the latter half of July to August, we have avoided the plunge many times, but this W bottom is the starting point. Again this time, starting from this W bottom, it is important to see if the price can be pushed up from here.
Currently, they are in a state where they are competing in a chart pattern called the descending triangle, which cuts down the high price with a constant low price, and the key is to be able to clearly break above the high price devaluation line and the $11,550 horizon.
If you exit this line, I would like to set the loss cut line at $11,550 and then move up to $12,000.
On the other hand, if you fail this challenge and break out of the triangle pattern, you may drop to the horizon of $10,900 or the horizon of $10,500.
From a long-term perspective, BTC has entered a temporary adjustment phase in a completely upward trend. It's supported by the current price range, and attention is focused on whether it can resume the rise again to $14,000.
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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.
Related publications
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.