BitcoinShort
BEARISH TREND CHANNEL CONFIRMED FOR $BTC! $19K Ahead!
Updated
Hello fellow traders,
The recent price action of BTC going down has confirmed a top of channel trend line that has been forming for a long time.
This trend line has been tested at the top over 4 times and the bottom 2 times over the last 2 years.
This indicates a bearish price action ahead, towards the middle of the downward trend channel.
Price will be likely to be tested at 19K support, just under 20k.
If 19K support doesnt hold, the bottom of the downward trend line sits at 16k.
For now I would exit BTC and look to do some low leverage shorts, 2x.
If you want more premium ideas, click the link below!
Have a nice day traders.
Cheers.
The recent price action of BTC going down has confirmed a top of channel trend line that has been forming for a long time.
This trend line has been tested at the top over 4 times and the bottom 2 times over the last 2 years.
This indicates a bearish price action ahead, towards the middle of the downward trend channel.
Price will be likely to be tested at 19K support, just under 20k.
If 19K support doesnt hold, the bottom of the downward trend line sits at 16k.
For now I would exit BTC and look to do some low leverage shorts, 2x.
If you want more premium ideas, click the link below!
Have a nice day traders.
Cheers.
Note
BTC Slowly Crumbling to 19kDeath by a thousand cuts until an artery gets hit.
Stay bearish.
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.