isma.topius

Breaking out the longterm down trend?

42 views
0
42 0
In addition to my last chart I found it interesting to chart BTCCNY/USDCNH to rule out the possibility that the strength/weakness of the Chinese Yuan would interfere with the chart.
We can see on this chart the last low of the bitcoin price came VERY near the longterm up channel . We didn't break out the longterm down channel (yet), so I expect the price to go down a bit before testing the longterm up or longterm down channel again.
I don't however see us make a new low again. The reaction after touching the longterm up trend makes me believe we have a greater chance breaking the downterm trend instead of the longterm up trend.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out