BitcoinLong
BTC taking a breather to $8460 or maybe a pullback to $7950
Quick update
BTC range traded as previously outlined. It stayed within a sub channel and kept testing and piercing bottom of channel support. It has down broken down below the support line again for the 5th time in the last 3 days and this time it has stayed below the line the longest and is still there while writing this. There is a below channel bounce back threshold support @ $8460 where we have seen candles wick on multiple occasions. If we touch that line there is a good chance of another pop-up back in channel for a 5th time in a row. If it breaks below $8460, there really isnt much to prevent it from regressing back to the top of the previous 6 month descending channel Which currently is around $7950. Be vigilant!
Still bullish, we wont break the 5 year ascending trend and we are cusp of further bull run. We may not pull back but I would keep my stop loss tight here.
Not investment advice, DYOR
BTC range traded as previously outlined. It stayed within a sub channel and kept testing and piercing bottom of channel support. It has down broken down below the support line again for the 5th time in the last 3 days and this time it has stayed below the line the longest and is still there while writing this. There is a below channel bounce back threshold support @ $8460 where we have seen candles wick on multiple occasions. If we touch that line there is a good chance of another pop-up back in channel for a 5th time in a row. If it breaks below $8460, there really isnt much to prevent it from regressing back to the top of the previous 6 month descending channel Which currently is around $7950. Be vigilant!
Still bullish, we wont break the 5 year ascending trend and we are cusp of further bull run. We may not pull back but I would keep my stop loss tight here.
Not investment advice, DYOR
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