BitcoinShort
Have BTC changed its Long Term channel for a less bullish one?
BTC is still very bullish in the long term, but even though last days have been really good, don't forget we are still in a correction and we are about to reach 61.8% fibonacci's retracement from 28.5k minimum.
The last drop left us with a very unstable medium term bullish channel so I don't think drop has ended here.
In red you can see the previous long term channel, in bold black what could be the new one.
I see 3 objectives to reach before resume the bullish trend:
1) 31k as first stop
2) 18k-20.5k as final bottom if we resume on the (red) long term channel
3) 11Kish if we are going to move towards a less bullish long term channel (bold black).
I buy on retracements only, so it is still not time for me to buy, but to sell what I have left and wait patiently for a new opportunity.
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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.