My latest Noob look at BTC
Following on from my first idea, BTC is still following the inverted head and shoulders pattern. This latest drop is because of some heavy resistance. I have tried to keep all my support and resistance lines in, so it may look busy and confusing, but so far BTC is following them. I am slightly bullish as the MACD is turning up now, as well as the RSI. The only concern is the low trading volumes. I read somewhere that this may be a bull trap.
Time will tell.
Time will tell.
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.