Bitcoin in Uptrend Since June
█ OVERVIEW
An Uptrend, defined by Investopedia describes the price movement when the overall direction is upward. In an uptrend, each successive peak and trough is higher than the ones found earlier in the trend. The uptrend is therefore composed of higher swing lows and higher swing highs. As long as the price is making these higher swing lows and higher swing highs, the uptrend is considered intact.
Applying this concept to the attached Bitcoin vs USD chart, it appears BTC has been in uptrend since local low was hit in June at previous ATH of 19k (give or take
1K depending on exchange)
Does this mean Bitcoin trend bottom is in?
Happy Trading
An Uptrend, defined by Investopedia describes the price movement when the overall direction is upward. In an uptrend, each successive peak and trough is higher than the ones found earlier in the trend. The uptrend is therefore composed of higher swing lows and higher swing highs. As long as the price is making these higher swing lows and higher swing highs, the uptrend is considered intact.
Applying this concept to the attached Bitcoin vs USD chart, it appears BTC has been in uptrend since local low was hit in June at previous ATH of 19k (give or take
1K depending on exchange) Does this mean Bitcoin trend bottom is in?
- Tough to say, although depending on the timeframe that references, potentially. On the 1H? Yes. On the 1D? Not yet
Is it not a bear flag? - I'd consider the bear flag invalidated as the 1h TF has a curved swing to it at this point. Again, just referencing the 1h timeframe with that.
Happy Trading
Eric Thies
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.