TradingView
parissap
Aug 28, 2022 9:00 AM

BTC trend analysis 

INDEX:BTCUSD1D
Bitcoin all time history indexINDEX

Description

⋅
#BTC/USDT
BTC broke down from the flag pattern and now is inside a strong descending channel.

now price is above the lower line of this channel.

🐻 break down the lower line from here can shape a head and shoulders pattern and drop price to somewhere around 16k.

but I think it's more possible to hold this support and has a sideways move here for several days!

then maybe another touch of lower line and after that attempt to break out middle line to touch the upper line of the channel.
Trend LinesSupport and ResistanceTrend AnalysisBTCBTCUSDBitcoin (Cryptocurrency)bitcoinanalysisbitcoinforecastBTCUSDTtrendfollowingTrend Line Breakchartpattren
Comments
Athar613
⋅
Excellent
parissap
⋅
@Athar613, thanks a lot
sadmark
⋅
Nice channel and chart buddy. yup. I also expect top retest around 21k:

parissap
⋅
@sadmark, great job mate thanks for sharing, price broke down and I think we will see 17k and 16k soon
Solldy
⋅
Pretty detailed analysis. Thank you for your work, colleague! Of course, I miss the candlestick analysis, taking into account the dynamics of volumes, but that would be too detailed)
parissap
⋅
@Solldy, thanks Solldy, yes candlesticks have all the details inside
Tolberti
⋅
Great technical analysis. keep it up!
parissap
⋅
@Tolberti, thank you mate
RLinda
⋅
Nice job. Thanks for sharing
parissap
⋅
@RLinda, thank you Linda
More