This trade idea assumes we are going to bottom of channel (ABC correction). We could bounce here I suppose and go up, but I think we are still in correction phase. Hopefully over soon.
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Massive slump today. Bitcoin already bounced above the bottom of the channel which could be a sign of bullishness or we might not have finished the downtrend to the bottom. I would wait for confirmation.
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Despite the mini dip yesterday, I still expect Bitcoin to continue to drop. If it touches the bottom of the channel today or tomorrow, prices would be in the 13k to 13.5k range. There should be a bullish reversal at this point offering a good buy in point.
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updated channel buy zone: 12800 - 13500
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Bulls are pushing it through the last downtrend line
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We bounced off the bottom of my updated channel. If you bought well done (maybe). If you compare with previous low, everything looks good and we should be going up soon?? Let's see. Lots of FUD right now, keep an eye on things.