mmsantos.br

BTC: it was a descending triangle. What's next?

BITSTAMP:BTCUSD   Bitcoin
Hi everyone.

I swear you I searched for bullish indications on the chart ... Now maybe we have some more bad news ...

Look at Downtrend Lines 1 and 2. Together, they form a descending channel. In general, when we look for validation of the channel, we have to observe the price action on the boundaries and in the middle of the channel - the yellow descending line is the middle of the channel. There is plenty of action in the midlle of the channel when it started to form. But look at today candle: BTC touched the middle of the channel and then reacted...

Let's wait for the test of the lower boundary of the channel - maybe it will happen soon.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.