BTC at the crossroad of 3 impt lines; next scenarios/ levels
BTC in this weekly chart just stopped at the daily ma200 red line.
It stopped at the upper side of a big red down channel.
It stopped at the maroon slotted median line of my Pitchfork.
Although this is more subjective, it also stopped at my violet uptrendline from pandemic low. (I used this line w/c respected several points)
It will be crucial to see how BTC will react in this 46k to 48k zone w/c it has been trading recently.
Break above red channel to see a continuation of recent rally to target 52k resistance.
Rejected at this crossroad with see a retest of 42k H&S neck or even the 37k to 33k zone before finally breaking out of down channel.
Not trading advice
It stopped at the upper side of a big red down channel.
It stopped at the maroon slotted median line of my Pitchfork.
Although this is more subjective, it also stopped at my violet uptrendline from pandemic low. (I used this line w/c respected several points)
It will be crucial to see how BTC will react in this 46k to 48k zone w/c it has been trading recently.
Break above red channel to see a continuation of recent rally to target 52k resistance.
Rejected at this crossroad with see a retest of 42k H&S neck or even the 37k to 33k zone before finally breaking out of down channel.
Not trading advice
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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.
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.