Trend is changing!? BTC going down!?
Hi Guys!
As we see on this 1 D chart on Coinbase, we have some changes in the trend. I guess the uptrend is now exhausted and want to come down lower. Could be a healthy correction to the Fib level of 0.786 or complete melt down?
If BTC breaks the upward sloping trend line which is established for several months, then I see levels at least at the yearly lows of 2018 near 3,1 k. Could form a real double bottom and start the sideways trend for the next 5-6 months. Accumulation phase.
I see both scenarios playing out at the very moment, but first, we need the confirmation of the breakdown. I need to see 3750 levels break first.
Let's see...
Happy and safe trading!
*This is not financial advice, this is only an idea. Do your own research and act on your responsibility.
As we see on this 1 D chart on Coinbase, we have some changes in the trend. I guess the uptrend is now exhausted and want to come down lower. Could be a healthy correction to the Fib level of 0.786 or complete melt down?
If BTC breaks the upward sloping trend line which is established for several months, then I see levels at least at the yearly lows of 2018 near 3,1 k. Could form a real double bottom and start the sideways trend for the next 5-6 months. Accumulation phase.
I see both scenarios playing out at the very moment, but first, we need the confirmation of the breakdown. I need to see 3750 levels break first.
Let's see...
Happy and safe trading!
*This is not financial advice, this is only an idea. Do your own research and act on your responsibility.
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.