BTC USD
MM looks like draw the guide line.
1. Brown dot is the line from the all time top to the peak of July.
Now the price ts trying to keep the brown dot.
It would means rather strong upward signal.
The price is on the upper side of the downward trend line from the top.
2. MM is trying to keep the Blue dot line also.
That means MM shows us some strong support guideline.
But, personally I see the falling wedge(thick red line).
The price is located in the head of the wedge.
It could means that the wedge is prepared to be broken upward. But I don't think so.
Anyway if I were a rather aggressive buyer, I would buy some Alts at the blue dot.
But I'm still waiting the bottom of the wedge. k
Good luck.
1. Brown dot is the line from the all time top to the peak of July.
Now the price ts trying to keep the brown dot.
It would means rather strong upward signal.
The price is on the upper side of the downward trend line from the top.
2. MM is trying to keep the Blue dot line also.
That means MM shows us some strong support guideline.
But, personally I see the falling wedge(thick red line).
The price is located in the head of the wedge.
It could means that the wedge is prepared to be broken upward. But I don't think so.
Anyway if I were a rather aggressive buyer, I would buy some Alts at the blue dot.
But I'm still waiting the bottom of the wedge. k
Good luck.
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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.