To the Bottom! (Of the channel!)
Blue rectangles are downchannel breakouts (1 failed, 2 successful, 1 projected)
Downchannels: 1/3 - White; 2/3 - Orange; 3/3 - Red
Upchannels: 1/2 - Green; 2/2 - Blue
Yellow horizontal lines: We have a situation
Red Horizontal Lines: We have a PROBLEM
BTCUSD moved down the current blue upchannel more than expected, but the relatively low price volatility displayed as the day progresses despite the RSI holding on the low end looks good, maybe even like that accumulation required for the next breakout may be happening, despite the FUD-o'-the-day. This is the only reason I'm not adjusting the projected breakout location yet. 10k USD may be a number the public can wrap their heads around as a stable price point for an intangible asset reserve currency, and that could be the floor from which to launch.
The (now even more) slippery slope to the breakout may be drenched in the blood of altcoins (HEY THANKS BNB), but thereafter a rising tide raises all ships (except for shitcoins).
There is always the possibility of crashing through resistances and dragging back down into downchannel 2/3 in orange, but hopefully things stay in the blue moderate upchannel. RSI squeeze from December ATH still ends on Sunday/Monday, good luck keeping any food down on the ride 'til then. Oh, and don't bite off more than you can chew.
I'm trying to do 1 altcoin review/fundamental & TA per day - concise, but informative. If you have any suggestions please let me know.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
Downchannels: 1/3 - White; 2/3 - Orange; 3/3 - Red
Upchannels: 1/2 - Green; 2/2 - Blue
Yellow horizontal lines: We have a situation
Red Horizontal Lines: We have a PROBLEM
BTCUSD moved down the current blue upchannel more than expected, but the relatively low price volatility displayed as the day progresses despite the RSI holding on the low end looks good, maybe even like that accumulation required for the next breakout may be happening, despite the FUD-o'-the-day. This is the only reason I'm not adjusting the projected breakout location yet. 10k USD may be a number the public can wrap their heads around as a stable price point for an intangible asset reserve currency, and that could be the floor from which to launch.
The (now even more) slippery slope to the breakout may be drenched in the blood of altcoins (HEY THANKS BNB), but thereafter a rising tide raises all ships (except for shitcoins).
There is always the possibility of crashing through resistances and dragging back down into downchannel 2/3 in orange, but hopefully things stay in the blue moderate upchannel. RSI squeeze from December ATH still ends on Sunday/Monday, good luck keeping any food down on the ride 'til then. Oh, and don't bite off more than you can chew.
I'm trying to do 1 altcoin review/fundamental & TA per day - concise, but informative. If you have any suggestions please let me know.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
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