Hello everybody.
Thought I would share another chart to support my previous TA to helps us see a little further ahead. As I had mentioned in my previous chart https://www.tradingview.com/chart/BTCUSDT/vrJkEAuX-BTC-USDT-2400-00-Feb-10th/ BTC is ready to break forth towards a new low unless something changes.
In this weekly chart we can see that we have a squeeze happening in the form of a symmetrical triangle. At least here we know how close we are to a break away. With this type of pattern, nobody really knows which way it will go; yet is measurable according to TA as seen within this chart. However BTC seems deeply rooted within this trend we are in (price channel), it suggests that we will probably make the first target southward within a few weeks, which will put BTC at approximately $2400.00. I also believe that this will be the bottom...going further south would be a total catastrophe and highly unlikely.
Until then, the trend is your friend. Buying on the dip and selling on the hype.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
Cheers!
Thought I would share another chart to support my previous TA to helps us see a little further ahead. As I had mentioned in my previous chart https://www.tradingview.com/chart/BTCUSDT/vrJkEAuX-BTC-USDT-2400-00-Feb-10th/ BTC is ready to break forth towards a new low unless something changes.
In this weekly chart we can see that we have a squeeze happening in the form of a symmetrical triangle. At least here we know how close we are to a break away. With this type of pattern, nobody really knows which way it will go; yet is measurable according to TA as seen within this chart. However BTC seems deeply rooted within this trend we are in (price channel), it suggests that we will probably make the first target southward within a few weeks, which will put BTC at approximately $2400.00. I also believe that this will be the bottom...going further south would be a total catastrophe and highly unlikely.
Until then, the trend is your friend. Buying on the dip and selling on the hype.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
Cheers!
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.