BTC managed to go up to SOS. It is not performing a fake break-out.
As you can see, what is happening is a copy of what happened in the past but on a smaller scale.
BTC failed to cross the middle of the channel and it going towards the base of the channel.
It did hit the previous AR (automatic rally), on a diagonal and it will hit on the same AR on a horizontal, creating a new SOW (sign of weakness). It will slightly bounce back at this level to create the new SOW. This is a critical point to see if BTC gets back to the SOS and gets the energy to continue with phase E in the big picture and crossing the middle of the channel.
Unfortunately, BTC failed to cross the middle of the channel and it is now going fast below the 40k level.
Happy trading,
As you can see, what is happening is a copy of what happened in the past but on a smaller scale.
BTC failed to cross the middle of the channel and it going towards the base of the channel.
It did hit the previous AR (automatic rally), on a diagonal and it will hit on the same AR on a horizontal, creating a new SOW (sign of weakness). It will slightly bounce back at this level to create the new SOW. This is a critical point to see if BTC gets back to the SOS and gets the energy to continue with phase E in the big picture and crossing the middle of the channel.
Unfortunately, BTC failed to cross the middle of the channel and it is now going fast below the 40k level.
Happy trading,
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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.
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.