$BTC A rehash of my old idea
So 3 weeks ago, I posted a chart of BTC making what I thought at the time was a Inverse H&S that was set to make a break of the current downtrend.
Obviously this did not happen and it got rejected harshly (see Denied bubble lol).
But I was looking again today and this scenario could actually come into play, but just later than I had expected in that chart from Feb 27th.
BTC still respects log support channel, started nearly a year ago.
BTC respects the downtrend line, that formed since ATH.
BTC has a nice support line that it used as a trampoline to bounce today.
I have been very bearish, as should be during this downtrend. But this last bounce at support is making me look back at the downtrend line as a possible mid-term target. And you can see what happened the last time BTC busted a longer term downtrend. This one is just on a much larger scale.
BTW I hope you daytraded those last 2 wedges I posted, as they played out perfectly for that nice chop.
DYOR out there and GL trading.
Obviously this did not happen and it got rejected harshly (see Denied bubble lol).
But I was looking again today and this scenario could actually come into play, but just later than I had expected in that chart from Feb 27th.
BTC still respects log support channel, started nearly a year ago.
BTC respects the downtrend line, that formed since ATH.
BTC has a nice support line that it used as a trampoline to bounce today.
I have been very bearish, as should be during this downtrend. But this last bounce at support is making me look back at the downtrend line as a possible mid-term target. And you can see what happened the last time BTC busted a longer term downtrend. This one is just on a much larger scale.
BTW I hope you daytraded those last 2 wedges I posted, as they played out perfectly for that nice chop.
DYOR out there and GL trading.
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