In my previous chart, I indicated two targets for the bear scenario on BTC both where reached almost exactly for reference ( 
). Which can indicate that the point used for analyzing the market was decent enough for future reference? Since then we had some textbook scenarios. Most where FIB extension levels that were reached and caused minor reversals down. In the larger perspective, the market to me is still a little indecisive... with a small lean to the upside. We seem to be close to finding a decent bottom point. Less volatility involved is a sign to me. On the bearish side, a double bottom would not be a bad thing. Now we are in a small falling wedge close to the bottom of the channel- which is trying to break as I am writing this. These to me is a reversal zone. A final touch around $7500 would be a good bottom touch and decent scenario. Overall as long as we stay in the channel nothing to big to be worried about. A break of the channel will give the bears full control. Goodluck.
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Another old chart that I just revisited form 10 FEB. It seems to love the levels <deleted>Note
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Touch Both channels and Resistance...., seems like a short squeeze for now. The 38.2 resistance would form a nice support level to hold. And see if there is some thru power to this moveNote
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hence be alert Note
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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.