BTC_[Daily]_Trendline Support (Channel Bottom)
BTC Daily Analysis:
Price is moving in within descending parallel channel for 155days now
Price is rejected from Channel top (resistance) and moving in short-term downtrend (acting as support).
It is also confluencing with 61.8% fib level (Golden Ratio)
It has also reached a long-term trendline support which is respected historically (except a recent fake break down).
A short term bullish setup until channel top can be taken (wait for green candle formation on hourly time frame)
Price is moving in within descending parallel channel for 155days now
Price is rejected from Channel top (resistance) and moving in short-term downtrend (acting as support).
It is also confluencing with 61.8% fib level (Golden Ratio)
It has also reached a long-term trendline support which is respected historically (except a recent fake break down).
A short term bullish setup until channel top can be taken (wait for green candle formation on hourly time frame)
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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.