BTC - Does the climb stop here? 2 scenarios one more likely.
BTC is looking like an upward channel after a volume confirmed breakdown from the upward wedge it was in before.
Good consolidation at this level for a while despite the volatility, the the bottom support proving to be strong.
That said uptrend from December has been broken with the November and then base uptrend to contend with. If we crush through this it's curtains for a while and likely a bullish downturn for the market as whole.
This would require a big fundamental shift which doesn't seem likely. WHICH IS USUALLY WHEN IT HAPPENS DUN DUN DUUUUUUN
But seriously, Fundamentals haven't shifted away from bullish since the early days of the climb, with more bullish news being released today of BTC backed loans by Signature bank in New York.
Overall it looks like we've got more long term growth though the market as a whole is in a precarious position until we get confirmation of movement in one way or another. Confirmation would consist at this point of BTC breaking it's channel in one direction or the other.
Good consolidation at this level for a while despite the volatility, the the bottom support proving to be strong.
That said uptrend from December has been broken with the November and then base uptrend to contend with. If we crush through this it's curtains for a while and likely a bullish downturn for the market as whole.
This would require a big fundamental shift which doesn't seem likely. WHICH IS USUALLY WHEN IT HAPPENS DUN DUN DUUUUUUN
But seriously, Fundamentals haven't shifted away from bullish since the early days of the climb, with more bullish news being released today of BTC backed loans by Signature bank in New York.
Overall it looks like we've got more long term growth though the market as a whole is in a precarious position until we get confirmation of movement in one way or another. Confirmation would consist at this point of BTC breaking it's channel in one direction or the other.
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t.me/KadnimCrypto
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