btc bearish channel

Updated

as long as we are in this bearish channel, we are in a bearish/sideways trend, for me first bullish sign is to break and retest this channel.

Note

1st target: top of the bearish channel
2nd target: purple static channel midline
3rd target: top of the purple static channel

in my opinion, we are still sideways, all these days was just a minor motion in the market.

it's just my idea

Note

Fibo 0.5 and 0.68 are 2 important areas that could indicate the supply and demand zone, passing 0.5 and breaking 0.68 for me is a short-term bullish sign, and otherwise reacting to 0.5 and failed to break out would be a short-term bearish sign for me.

Daily time frame

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ding ding ding , as I expected, the price broke up, now it depends on on-demand power, there could be a pullback to the bearish channel to confirm the break .

let's see what will happen

there is 3 possible scenario for me

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15m time frame , hidden divergence

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hell yeah, will we reach the next target or no?

from rsi perspective in a daily time frame, we have enough power to go there but in lower time frames we need to rest for a couple of candles to gain power .

ZorgOros

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