Hi everyone
A quick review on Bitcoin to see a possible scenario in short term:
if you follow my last analysis I showed how price broke long term trend line
from March 2020 and drop below it.
so we can not expect new bull trend for longer charts.
but we can see now the price is moving into an ascending channel, if this channel forms well
we can have a limited rally between 39500$ to 41000$ before another drop.
so for now we can follow the price into the channel. breaking above or below the channel can
change our scenario as well. lets see
Enjoy the market
A quick review on Bitcoin to see a possible scenario in short term:
if you follow my last analysis I showed how price broke long term trend line
from March 2020 and drop below it.
so we can not expect new bull trend for longer charts.
but we can see now the price is moving into an ascending channel, if this channel forms well
we can have a limited rally between 39500$ to 41000$ before another drop.
so for now we can follow the price into the channel. breaking above or below the channel can
change our scenario as well. lets see
Enjoy the market
Trade active
Note
price couldn't gain 39500 important level so drop and even broke the channel downward. our last chance of rally is 35700 to hold. if not the blue area would be the main target.
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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.
Related publications
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.