BTC LOG TREND LINE ANALYSIS
Updated
BTC LOG TREND LINE ANALYSIS
My interpretation of the major trend lines, support and resistance in the bear market. Since trend lines are just extrapolations of previous price action, they carry less weight than horizontal support and resistance. I will be watching these trendlines, and be looking for confirmation in terms of volume and breaks of support and resistance to make trades.
My interpretation of the major trend lines, support and resistance in the bear market. Since trend lines are just extrapolations of previous price action, they carry less weight than horizontal support and resistance. I will be watching these trendlines, and be looking for confirmation in terms of volume and breaks of support and resistance to make trades.
Note
Long term continuation of the bear market seems likely as price is hovering now at the lower end range of the "almost bear" order block. Watching closely now if the bulls can pull of a miracle.Note
6k support hanging by a thread. Sitting at the edge of my seat, hopefully the bear can make some progress, and btc can see some real capulative action as price plunges towards the 5k-3k levelNote
BTC was flirting with the next phase of the "bear" order block, as you can see price is back in the "almost bear" block, i wouldn't give a target for this more than the "almost bull" phase of 7800. This in itself would already be massive for the bulls. From a bearish perspective if price retraces back below 6100 its game on again for the bears.Note
6800 key level broke bullish, 7800 is still a realistic target
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