Bitcoin

Lower Parallel Channel/Trendline tested again, 3rd time a charm?

56
NOTE: I am not an expert trader by any means, I am open input and sharing my ideas. I am still learning this is my second time.

*************************************

DAILY
Price is consolidating or ranging

*************************************

4 HOUR
- Price seen between support and resistance

(DOWN/BEAR)
- Parrallel channel seen:
---- its height is around 5000 pips. a little more. (that i was able to measure)

---- with this being the 3rd test to its bottom line,, still hoovering in the lower channel, which could be bearish. however, it is looking like a rejection (as it is loosing momentum, and a doji is forming and likely to close as so.

---- yet, the channel is sell/short pattern. so next few candles may come with the moment and still turn, to go down

*************************************

In contrast (UP/ BULLS)
- Ukraine is about to begin to use btc as its national assest and an answer for that is pending soon. ( price will go up b/c this is good for this pair)

- two fake-outs seen at support

- the channel could continue sideways and actually go up

- or the channel will soon be invalidated, moving up, breaking thru top channel line.

*************************************

Right now, most technical indications are neutral, a this time for this pair. So lets wait and see.

*************************************

Happy trading.

Open to comments and advice.

*************************************

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.