BTC has broken out of a downtrend channel and is now retesting what was the resistance and trying to turn it into support. IF BTC can close above this line, we should see a spring up. If it does not, look for price to continue to trend down within the channel for 1-2 more weeks.
Most ALT/BTC pairs are looking very bearish right now so a powerful spike up would not surprise me in the slightest.
*THIS IS NOT FINANCIAL ADVICE. I AM NOT RESPONSIBLE FOR ANY LOSSES OF MONEY*
Most ALT/BTC pairs are looking very bearish right now so a powerful spike up would not surprise me in the slightest.
*THIS IS NOT FINANCIAL ADVICE. I AM NOT RESPONSIBLE FOR ANY LOSSES OF MONEY*
Note
Retested resistance and is bouncing. Very bullish sign!
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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.