Bitcoin Bounce
If we look at this purely based on the well-established DOWN-trend, I believe this is the most likely outcome. We have seen bounce after bounce since May and BTC is clearly trying to keep its head out of the water. The problem is we know the likely outcome of that story.
This is not based on bias and is only from an observational standpoint. This is just to give a clear perspective of the situation.
If it does break that trend, there could potentially be a rally but this is a very wishful scenario. Do NOT trade on wishfulness.
This is not based on bias and is only from an observational standpoint. This is just to give a clear perspective of the situation.
If it does break that trend, there could potentially be a rally but this is a very wishful scenario. Do NOT trade on wishfulness.
Note
I still hold true to this until we see further confirmation. We could be seeing yet another fake-out as we have seen over and over again. This last pump up to roughly 36.5k has formed a J pattern which is a potential signal this is another Bull trap. Watch closely.
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.
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.