BTCUSD: Bitcoin Complete Breakdown? - I don't believe so! Long

Bitcoin / U.S. dollarBitstamp

Description

⋅ Apr 18, 2021 1:35 AM

Looking at the chart, the ascending channel together with 50 Day MA provide strong support for the continued upward rise of BTC in my view.
If the channel breaks, the closest support to look at would be around 56K.

Happy trading!

NFA, DYODD

Comments

lurch001

⋅ Apr 18, 2021 2:20 AM

It can’t break that trendline??

learn2trade

⋅ Apr 18, 2021 2:23 AM

@lurch001, sure it can. but if it does the price should find stronger support at 50MA

sweethunter26

⋅ Apr 18, 2021 3:18 AM

@learn2trade, no volume

learn2trade

⋅ Apr 18, 2021 3:21 AM

@sweethunter26, volume to the downside - that's what I see... 50 MA here we come!

trickx1

⋅ Apr 18, 2021 4:26 AM

@learn2trade, agree

lurch001

⋅ Apr 18, 2021 3:37 AM

@lurch001, wow

trickx1

⋅ Apr 18, 2021 4:26 AM

@lurch001, trendlines don't work.

learn2trade

⋅ Apr 18, 2021 4:32 AM

@trickx1, my channel failed but 50 MA still holds

trickx1

⋅ Apr 18, 2021 5:05 AM

@learn2trade, ok, good luck with 50 MA.