We could be in a sideways market for months - BTCUSD

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We could go sideways for a couple of months if the support is not broken. We made a higher low, implying the support looks strong so far. If we break the first resistance and cross above EMA50, we can see a double bottom in works, which on failure to break the second resistance would further confirm the sideways movement of BTC .

The long-term trend of Bitcoin shows that it could be in accumulation phase after a blow-off top at 20k. This sideways market is healthy for further continuation of a parabolic trend on a much larger time frame (weekly).

The trend has broken down which implies an obvious down trend
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out