Btc is approaching the mid line of the Downward channel. If it passes the mid-line it should see a fast sell off to the bottom of the bottom downward channel.
We should see a Full Reversal starting when we cross any of the 3 lines moving upward. Hopefully we can enter the bottom channel, get in some good long positions, and start moving towards the new high for the year.
Each line will cause support, and then on the way up resistance. Day traders can make a little money at these points, but I wouldn't Risk too much here.
Bears and Bulls are going to be viscous at these points and may not allow for much sideways action or very large bounces of the lines. I would expect small resistance and then string break thrus at each line once the reversal starts
** I will short on any break thru of these lines on a downward break ** I will add to my Long positions at every upward break thru
*** The upside to everything is that even if we do go further down after a upward break thru, I will be happy with these long positions.
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Please like this chart and I will start posting more easy to read charts to watch
...That same basketball game may seem like a lock for one team to win, but then an injury in the first quarter, and great play by one team and bad play by another may lead to a 20 point half time lead. Now there is an abundance of new information to add into the equation.
This does not mean that the person that gave the original information was wrong, stupid, or bad at what they do.
RayYagelski3e
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Charts and TA are not exact sciences.
I see much arguing on here and bragging about guessing things correctly and being the Master of All things
If you were going to a basketball game and someone tells you that one team has their best player injured and the other team wins 98% of their games on their home court, plus a new trade for this team, an injury for that team, a long road trip for this team.....
This information gives the user better insight to help determine the probability of different outcomes, and use that information to better assess risk and bet on outcomes.
Nothing is ever guaranteed, and things often change.
...That same basketball game may seem like a lock for one team to win, but then an injury in the first quarter, and great play by one team and bad play by another may lead to a 20 point half time lead. Now there is an abundance of new information to add into the equation.
This does not mean that the person that gave the original information was wrong, stupid, or bad at what they do.