BTC / USD - Where we might go this month
Bullish and bearish targets highighted. This candle is at the precipice of both an upward trend since June, and the longer downward trend.
Unllike the weekly chart, on the monthly, we haven't broken the long-term downtrend quite as clearly. Just a the top 1/3 of a candle and a wick, and the trendline is higher on the monthly than the weekly, here's the weekly (white dashed line vs. monthly upper red dashed line):
Also, on the weekly chart, we haven't re-tested the top of the trendline (again, white dashed line) that we broke, if we do that successfully, we'll stop around 9500 before moving back up. We have tested the top of the monthly trendline on the weekly chart, with a wick down to it today... so far.
Unllike the weekly chart, on the monthly, we haven't broken the long-term downtrend quite as clearly. Just a the top 1/3 of a candle and a wick, and the trendline is higher on the monthly than the weekly, here's the weekly (white dashed line vs. monthly upper red dashed line):
Also, on the weekly chart, we haven't re-tested the top of the trendline (again, white dashed line) that we broke, if we do that successfully, we'll stop around 9500 before moving back up. We have tested the top of the monthly trendline on the weekly chart, with a wick down to it today... so far.
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.