Bitcoin's in a strong spot
Didnt most people expect doom's day on yesterdays initial drop?
Well lets see what the chart tells us
1) BTC channeled down on top the downtrend as expected
2) Technically has suprassed that 1 year of downtrend and is now leaving the falling wedge whether for accumulation or direct impulse
3) Bounced off 0.886 like a boss, setting 18.4k as a great floor for next trades
Whats next?
Until a higher high, BTC remains bound within 0.382/0.618 ranges
Once cleared those and triggered 0.886, path is free for 1.272/1.618 which will be ultimate tests if this PA since the low remains corrective or impulsive
Invalidation remains daily/weekly close below 18.4/17.6k
Hold my beer pls
----
No financial advice, do your own research, don't be stupid
Well lets see what the chart tells us
1) BTC channeled down on top the downtrend as expected
2) Technically has suprassed that 1 year of downtrend and is now leaving the falling wedge whether for accumulation or direct impulse
3) Bounced off 0.886 like a boss, setting 18.4k as a great floor for next trades
Whats next?
Until a higher high, BTC remains bound within 0.382/0.618 ranges
Once cleared those and triggered 0.886, path is free for 1.272/1.618 which will be ultimate tests if this PA since the low remains corrective or impulsive
Invalidation remains daily/weekly close below 18.4/17.6k
Hold my beer pls
----
No financial advice, do your own research, don't be stupid
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.