Bitcoin broke its 52 week high in june (green line) and is now consolidating.
For trenfollowing we can wait until price moves back above 11k to follow the trend for the next leg.
If price falls below 7200 (previous box low) it would be bearish. While we remain in the current box, we are just refueling to move higher.
For trenfollowing we can wait until price moves back above 11k to follow the trend for the next leg.
If price falls below 7200 (previous box low) it would be bearish. While we remain in the current box, we are just refueling to move higher.
Note
2012 vs 2019 Note
old box support was respected which is a good sign, market was very close to turn bearish but was rejected
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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.