Quick Linear Regression Channel Analyses on BTC
1) Constructing parallel lines between highs and lows we can create a Liner Regression Channel
2) Price fail to rally on March 27th to touch the upper parallel line
3) Instead price broke bellow lower parallel line
4) MACD conforms lower trend
I’m bearish on the short term BTC price and I’m looking to average in on lower 4000 prices.
However, this is crypto so anything can happen, for example a whale can come in and bust the Channel up. But hopping on that to happen, we become "speculators" and that is not wealthy for your wallet.
Please let me know what you think.
2) Price fail to rally on March 27th to touch the upper parallel line
3) Instead price broke bellow lower parallel line
4) MACD conforms lower trend
I’m bearish on the short term BTC price and I’m looking to average in on lower 4000 prices.
However, this is crypto so anything can happen, for example a whale can come in and bust the Channel up. But hopping on that to happen, we become "speculators" and that is not wealthy for your wallet.
Please let me know what you think.
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