BTC Nearing Completion of Downward Rotation
The island top that was left above the 2 month balance range proved to be a powerful reversal signal. BTC has traded quickly back down through the balance area.
Look for a test below the rising trendline in the next few days. We have seen 2 deep tests below this trendline in the past 2 months, but no daily close below it. A test below, followed by a daily close above, would present an excellent opportunity to place a long.
If the market does not test below this trendline in the next 2-3 days, then firmer buying support may be present, and longs should be entered with a stop loss below the trendline.
A daily close significantly below this trendline would invalidate the rangebound market state, and the market may trade lower.
Look for a test below the rising trendline in the next few days. We have seen 2 deep tests below this trendline in the past 2 months, but no daily close below it. A test below, followed by a daily close above, would present an excellent opportunity to place a long.
If the market does not test below this trendline in the next 2-3 days, then firmer buying support may be present, and longs should be entered with a stop loss below the trendline.
A daily close significantly below this trendline would invalidate the rangebound market state, and the market may trade lower.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.