Approaching Crossroads!!! (Not Death Cross)
Updated
So We have major Support line that preceded our two big bull runs in Nov 17 an Feb 18. Its interesting to me that it tested the downtrend line from our December and February highs. The next significant level is the green support line that began BTC's epic run in Nov '17 and the smaller rally in Feb '18.
The question is will the combined powers of the red Downtrend and the Green Support line be enough to build the confidence of the Bulls?
Taking a wait and see approach... a breach of the green could be catastrophic in the short term.
Please like if you like :)
AC
The question is will the combined powers of the red Downtrend and the Green Support line be enough to build the confidence of the Bulls?
Taking a wait and see approach... a breach of the green could be catastrophic in the short term.
Please like if you like :)
AC
Note
So here it is on the 1 Hour Chart, You can clear see the support of the Downtrend line. To me the next big level to watch is 6200 in a breach of the green support line.
Note
So it has rebounded just a little and is heading back down again. Momentum is also very neutral. could be heading back down to retest. Fascinated to see what will happen at the green support line if it touches.
Anyone concur/like?
AC
Note
That is a lot of respect right there for the Dec/Feb downtrend Line
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.