Bitcoin had a positive session yesterday, during which it made a new Lower High within the 1D Channel Down (RSI = 34.634, MACD = -439.400, Highs/Lows = 0.0000). It appears to be reversing now, keeping the Channel Down intact with a potential downside target (and Lower Low) at 7,500.
However based on the RSI sequence, a new inner pattern may be emerging and that is a Triangle that can limit the current reversal to only a Higher Low. As a result shorter term traders may only settle for a 7,840 downside target.
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However based on the RSI sequence, a new inner pattern may be emerging and that is a Triangle that can limit the current reversal to only a Higher Low. As a result shorter term traders may only settle for a 7,840 downside target.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial