🔥 Bitcoin Bearish Channel Bounce: Short-Term Uptrend Incoming?
In my most recent BTC analysis I talked about a potential break out of the bearish channel that we've been trading in for a couple of weeks.
After a failed bullish break out, we moved back towards the bottom support of the pattern. The reversal from the bottom was quite powerful, so I wouldn't be surprised if we see a couple of bullish days ahead.
Bullish target at the channel's resistance. Preferably, I want to see a move above 27k to confirm the reversal.
Longer-term the chart seems more bearish. Still expecting a move towards the Summer 2022 highs, as explained below.
After a failed bullish break out, we moved back towards the bottom support of the pattern. The reversal from the bottom was quite powerful, so I wouldn't be surprised if we see a couple of bullish days ahead.
Bullish target at the channel's resistance. Preferably, I want to see a move above 27k to confirm the reversal.
Longer-term the chart seems more bearish. Still expecting a move towards the Summer 2022 highs, as explained below.
Note
The reversal has been confirmed. Still far from oversold on longer-term timeframes. Looking for a move towards the blue area over the next few days.
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🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
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.