Bitcoin (BTC) Watch The Creepy Ominous Bear Line
This line goes back to April 2021 when BTC was at an ATH and started to crash. First we saw a -24% drop followed by a harsh -40% Drop.
BTC would reject this line in September 2021 before breaking out to new ATH Highs.
This line would continue to be a significant, it acted as a support when BTC came down from ATH's in December 2021.
In 2022, this line saw multiple big rejections, -24% in late January, ultimately a fake-out and then a big 41% drop off the line in June.
In the next 2 weeks we will see how BTC reacts to this ominous line. It has dropped below the line and it we will soon see another junction. Will the trend continue?
BTC would reject this line in September 2021 before breaking out to new ATH Highs.
This line would continue to be a significant, it acted as a support when BTC came down from ATH's in December 2021.
In 2022, this line saw multiple big rejections, -24% in late January, ultimately a fake-out and then a big 41% drop off the line in June.
In the next 2 weeks we will see how BTC reacts to this ominous line. It has dropped below the line and it we will soon see another junction. Will the trend continue?
Note
BTC touched the line on Monday and today and broke down. Should be interesting to watch over the next few daysNote
For reference, here is BTC breaking down after touching the line twice in JuneHere is what it looks like now
Note
Breakdown incoming? If we move steady and dont breakdown its time to re-assess the marketOrder cancelled
Alt coins seem to have broken down but BTC and ETH remain strong. Closing idea.
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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.
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.