Due to the lower high and the three test points we can make this channel for BTC.
There is a lot of action at the heart-line as well, both resistance and support, this was evident yesterday where we tested it multiple times and bounced off of it as support.
If this heart-line at around $11000 breaks, next targets would be the cyan line, confluent with the daily 50 EMA coming in at $10020 to act as some support.
Before we see ATH highs again, this channel will have to break, this meaning a move back above $13000 at least, and above the prior high at $13200 as confirmation.
I know most people have shared this already, the triangle. This would actually line up perfectly with the two local tops, and would also line up sort of close to the heart-line where if it breaks then let the selling begin!
This triangle is getting pretty full, and I would expect it to break within the next few days, it could go either way, and when it breaks there is a measure move in both scenarios.
- For the upside, there can be targets anywhere above $15000, who knows how far BTC could go after it breaks.
- For the downside, there can be targets basically to the bottom of the downward channel. Around $9000-$8600
There is a lot of action at the heart-line as well, both resistance and support, this was evident yesterday where we tested it multiple times and bounced off of it as support.
If this heart-line at around $11000 breaks, next targets would be the cyan line, confluent with the daily 50 EMA coming in at $10020 to act as some support.
Before we see ATH highs again, this channel will have to break, this meaning a move back above $13000 at least, and above the prior high at $13200 as confirmation.
I know most people have shared this already, the triangle. This would actually line up perfectly with the two local tops, and would also line up sort of close to the heart-line where if it breaks then let the selling begin!
This triangle is getting pretty full, and I would expect it to break within the next few days, it could go either way, and when it breaks there is a measure move in both scenarios.
- For the upside, there can be targets anywhere above $15000, who knows how far BTC could go after it breaks.
- For the downside, there can be targets basically to the bottom of the downward channel. Around $9000-$8600
Comment:
This analysis has come out almost perfectly to plan! Found support at $10000ish region as I said.
