Hello all. Today's sideways movement for BTC allowed for the ALT coins to finally make a break for it! This might be coming to a swift halt/end now as BTC slowly grinds up, and now back tests the rising support line as resistance. Rising consolidation is a clue for continued movement down, along side with rejection at a support. It is expected that we see a secondary test of the previous low near $10,070 . We should wait to see how this level reacts and if buy interest comes in. A false breakout like that in LTC's surprising event could get us back to the midline of the channel or even to the upper line.
Will BTC break back up into the rising channel or re-test the 10k mark!? Leave your opinion in t he comments below!
Will BTC break back up into the rising channel or re-test the 10k mark!? Leave your opinion in t he comments below!
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it seems BTC is holding on this support and might continue to the upside. Sitting on the equilibrium of bother rising and falling channels. Rising support creating a rising triangle.
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*equilibrium of the purple trading range.Note
we should now watch for a break of the resistance line of $10,265
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Flip to resistance!
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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.