Don't stick the fork in BTC just yet!
As we can see using the pitchfork, BTCUSD is still within its channel dating all the way back to November.
Despite all the bearish divergences and supports being broken, until it closes significantly outside its channel she's still in play.
I would expect it to either bounce off the support around the 52.5k range and head back up, or break through and head south.
𝕋𝕙𝕚𝕤 𝕚𝕤 𝕟𝕠𝕥 𝕗𝕚𝕟𝕒𝕟𝕔𝕚𝕒𝕝 𝕒𝕕𝕧𝕚𝕔𝕖 𝕒𝕟𝕕 𝕀 𝕒𝕞 𝕟𝕠𝕥 𝕒 𝕗𝕚𝕟𝕒𝕟𝕔𝕚𝕒𝕝 𝕒𝕕𝕧𝕚𝕤𝕠𝕣 𝕠𝕣 𝕡𝕣𝕠𝕗𝕖𝕤𝕤𝕚𝕠𝕟𝕒𝕝. 𝕀'𝕞 𝕛𝕦𝕤𝕥 𝕤𝕠𝕞𝕖 𝕕𝕠𝕡𝕖 𝕨𝕚𝕥𝕙 𝕒 𝕔𝕠𝕞𝕡𝕦𝕥𝕖𝕣 𝕠𝕟 𝕥𝕙𝕖 𝕚𝕟𝕥𝕖𝕣𝕟𝕖𝕥. 𝔻𝕠 𝕨𝕚𝕥𝕙 𝕥𝕙𝕚𝕤 𝕨𝕙𝕒𝕥 𝕪𝕠𝕦 𝕨𝕚𝕝𝕝.
I'm always to open to hear any ideas, criticisms, corrections or comments you may have - I'm no professional - there's always more to learn!
Despite all the bearish divergences and supports being broken, until it closes significantly outside its channel she's still in play.
I would expect it to either bounce off the support around the 52.5k range and head back up, or break through and head south.
𝕋𝕙𝕚𝕤 𝕚𝕤 𝕟𝕠𝕥 𝕗𝕚𝕟𝕒𝕟𝕔𝕚𝕒𝕝 𝕒𝕕𝕧𝕚𝕔𝕖 𝕒𝕟𝕕 𝕀 𝕒𝕞 𝕟𝕠𝕥 𝕒 𝕗𝕚𝕟𝕒𝕟𝕔𝕚𝕒𝕝 𝕒𝕕𝕧𝕚𝕤𝕠𝕣 𝕠𝕣 𝕡𝕣𝕠𝕗𝕖𝕤𝕤𝕚𝕠𝕟𝕒𝕝. 𝕀'𝕞 𝕛𝕦𝕤𝕥 𝕤𝕠𝕞𝕖 𝕕𝕠𝕡𝕖 𝕨𝕚𝕥𝕙 𝕒 𝕔𝕠𝕞𝕡𝕦𝕥𝕖𝕣 𝕠𝕟 𝕥𝕙𝕖 𝕚𝕟𝕥𝕖𝕣𝕟𝕖𝕥. 𝔻𝕠 𝕨𝕚𝕥𝕙 𝕥𝕙𝕚𝕤 𝕨𝕙𝕒𝕥 𝕪𝕠𝕦 𝕨𝕚𝕝𝕝.
I'm always to open to hear any ideas, criticisms, corrections or comments you may have - I'm no professional - there's always more to learn!
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