Update to my BTC charts (linked below)
BTC has broken that resistance line on the chart, and is seeing a few green (or white) candles. If we get three white knights, we are looking to hit the top of the channel, which is easily around $31k.
However, that red box is kind of a deadly box, and it's gotta clear that to continue up.
Longer term: it's still stuck in the channel which some are calling an accumulation channel, but I disagree respectfully.
Short term: You can trade within the channel, but these are daily trades, and anything longer is not advised because of the overall movement in the channel.
TLDR: Short term long for 2-3 days, but longer term, not a good time to trade.
BTC has broken that resistance line on the chart, and is seeing a few green (or white) candles. If we get three white knights, we are looking to hit the top of the channel, which is easily around $31k.
However, that red box is kind of a deadly box, and it's gotta clear that to continue up.
Longer term: it's still stuck in the channel which some are calling an accumulation channel, but I disagree respectfully.
Short term: You can trade within the channel, but these are daily trades, and anything longer is not advised because of the overall movement in the channel.
TLDR: Short term long for 2-3 days, but longer term, not a good time to trade.
Note
Top hit, we are going back down again.
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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.