For obvious reasons, this wouldn't be good for BTC if this idea plays out.
Notice the inverse cup and handle pattern which should send the price down.
If we break the blue support, which has held since $6,001, then expect a double bottom at $6k.
These are my own opinions. This isn't investment advice.
Notice the inverse cup and handle pattern which should send the price down.
If we break the blue support, which has held since $6,001, then expect a double bottom at $6k.
These are my own opinions. This isn't investment advice.
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I think the blue support will hold!
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The inverse cup and handle pattern is unlikely to occur in my opinion.
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Observe the death cross followed by a golden cross between the 50 and 200 day volume weighted moving averages:
This is an excellent entry point.
This trade is closed.
This is an excellent entry point.
This trade is closed.
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As it turns out, this idea wasn't too far off.
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I'm back to bearish until the market proves otherwise.