BTC/USDT Thoughts
Updated
Hey hey and welcome, i won't bore you with an intro or some obscenely direct statement based on a trendline... but here's where i stand on BTC. For starters I'm bullish. BTC rebounded off of the inner bearish channel and was slingshoted through the 274 TEMA. It has since gathered support on both the 18 & 122 EMA's - which is currently corresponding with the support offered by the bullish channel (green). While writing this the bullish flag formation has broken (volume will confirm breakdown). If BTC were to hold at the bullish support we may see another attempt to break through the extended bearish territory (purple line overhead) while steadily making way through the resistances (every other line). The negative possibility is a drop - breaking supports between 8655-8500 and possibly again between 8350-8000. The vertical lines are my estimated times of decision, though these are not always reliable.
Note
Will the 8350 support hold? It does correspond with the 274TEMA which is positively indicative, however a sell off to 8k is also a probable option. Be sure to react!
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