Greetings all,
First time posting analysis so feedback is appreciated. May showed a distinct downward channel pattern that finally broke at the beginning of June. The current upward trending channel is set to run into a large resistance that defines the overall consolidation around June 20th. From that point BTCUSD will break the current channel and continue to consolidate until mid July. At this point I do not feel that there is enough information available to determine what will happen at the conclusion of this consolidation. What are your thoughts and why?
First time posting analysis so feedback is appreciated. May showed a distinct downward channel pattern that finally broke at the beginning of June. The current upward trending channel is set to run into a large resistance that defines the overall consolidation around June 20th. From that point BTCUSD will break the current channel and continue to consolidate until mid July. At this point I do not feel that there is enough information available to determine what will happen at the conclusion of this consolidation. What are your thoughts and why?