BTC pitchfork analysis
Updated
Most information is written on the chart
If BTC can't break out from the pitchfork we will see a fall again, and the midterm downtrend continues
If it breaks out we are in a midterm bullrun again
I'd monitor the ROC of Stoch RSI, looking for a clear negative or positive turn, and buy or sell based on that
Also monitor the current local trendline, if it keeps bouncing off of it, or breaks it
Right now the RSI suggests a downfall again, and not an outbreak, but it's hard to tell
If BTC can't break out from the pitchfork we will see a fall again, and the midterm downtrend continues
If it breaks out we are in a midterm bullrun again
I'd monitor the ROC of Stoch RSI, looking for a clear negative or positive turn, and buy or sell based on that
Also monitor the current local trendline, if it keeps bouncing off of it, or breaks it
Right now the RSI suggests a downfall again, and not an outbreak, but it's hard to tell
Note
this is the critical momentNote
looks like BTC failed to leave the channel and is going down in it againNote
we will soon reach the first floor based on previous price behaviours
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