Bitcoin, mid-term Bearish Channel Analysis

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
The price is bouncing between the support and the resistance of this mid-term bearish parallel channel .
We are near a strong long-term support, ready to be tested.
Remember that a trend is more likely to continue than reverse.
Don't buy until you don't see clear bullish signals! Reversal Anticipation can be very painful.
What do you need to see before taking action?
  • big candles
  • heavy volume
  • little shadows
If the price continues lower and breaks the support, the next area to be tested is the long-term Symmetrical Triangle Support.

Sky is not the Limit

The informations and the strategies discussed are NOT recommendation to buy, sell or trade any securities. They are strictly for educational and illustrative purposes.
May 20
Comment: The price has broken the trendline and after a little consolidation, it started a series of big bullish candlesticks with high volume.
Here you can find more about this Bullish Movement.
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