BTC: QUICK UPDATE!!
Updated
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Welcome to this quick BTC update.
BTC is forming an ascending channel-like structure in a 1hr time frame which is generally a bearish pattern. RSI is also showing bearish divergence. Price is still moving inside a channel and we might see another pump above the 21.5k level for trapping more longs and after that, a dump will be coming.
Once it breaks down the channel then it is a confirmation for the price to go lower.
Invalidation:- Break and close above 21.8k
What do you think about this?
Let me know in the comment section.
If you like this idea then do support it with like and follow.
Thank you!
Welcome to this quick BTC update.
BTC is forming an ascending channel-like structure in a 1hr time frame which is generally a bearish pattern. RSI is also showing bearish divergence. Price is still moving inside a channel and we might see another pump above the 21.5k level for trapping more longs and after that, a dump will be coming.
Once it breaks down the channel then it is a confirmation for the price to go lower.
Invalidation:- Break and close above 21.8k
What do you think about this?
Let me know in the comment section.
If you like this idea then do support it with like and follow.
Thank you!
Note
Here comes the dump. Breaks down the rising channel and exactly goes as we predicted. Hope you guys listened and didn't hold any longs or set a strict SL.
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