Bitcoin has been in an upward channel since the beginning of this month.
I believe this to be a bullish indicator. Typically, Bitcoin has blow of tops or consolidation into triangles (usually descending) before price makes a leg lower.
Example:
With price steadily moving up in a channel, it primes traders for a breakout trade. Bitcoins velocity in price action can be extreme.
Example:
My opinion: Safest trade is to hold at least 1 year.
I believe this to be a bullish indicator. Typically, Bitcoin has blow of tops or consolidation into triangles (usually descending) before price makes a leg lower.
Example:
With price steadily moving up in a channel, it primes traders for a breakout trade. Bitcoins velocity in price action can be extreme.
Example:
My opinion: Safest trade is to hold at least 1 year.
Note
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.
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.