BTCUSD 3-Day is retesting the mid-BB. As the chart shows, rejection from this level has resulted in on average a 40% decline. The last time it was rejected from this level, the Black Thursday collapse followed.
A break above will lead to a test of the upper band and likely a sustained breakout rally. Bear trend may officially be over if there is no rejection here.
A break above will lead to a test of the upper band and likely a sustained breakout rally. Bear trend may officially be over if there is no rejection here.
CoinChartist is run by Tony "The Bull" Severino, CMT, a technical analyst fascinated w/ Elliott Wave Principle, Hurst Cycle Theory, W.D. Gann, Japanese Candlesticks, & other classical charting methods. Visit coinchartist.io for free TA education!
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.
CoinChartist is run by Tony "The Bull" Severino, CMT, a technical analyst fascinated w/ Elliott Wave Principle, Hurst Cycle Theory, W.D. Gann, Japanese Candlesticks, & other classical charting methods. Visit coinchartist.io for free TA education!
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.