BTC long defending channel
Updated
Hello Traders,
Today we are looking at a potential descending channel with major bullish divergence on multiple time frames. Jumping into the bottom of the channel gives us the best profit potential and saves us a lot of risk.
Good luck!
SAVVY
Today we are looking at a potential descending channel with major bullish divergence on multiple time frames. Jumping into the bottom of the channel gives us the best profit potential and saves us a lot of risk.
Good luck!
SAVVY
Note
We have hit 3 of the 4 targets and had a dump on the weekend which is most likely big bags playing whale games as the Open Interest wasn't all that high to have a dump like this. If you aren't already aware, big bag holders can come in on the weekends when trading volume is low and throw price action around in the direction in which they want it to go. Keep in mind we have the FED meeting this Wednesday the 21st of September and based on the CPI report we could have an increase of 1 basis point. We are projected to get .75BPS. Regardless, It is important to know what is going on in the traditional a markets when doing your FA (fundamental Analysis) prior to doing your TA (Technical Analysis) to get the best results. Law of Large Numbers.... The more data you have the better the outcome will be.
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