Its decision time on BTC soon.
We could possible be in a GIANT descending channel. Recent 10500 was just a fakeout and the dump the nessessary correction.
We are now approaching a deciding area:
- Rising wedge after dump already almost formed
- New resistance line from february 10500 fakeout
- SMA 50 resistance
- upper descending-channel-line support
- volume decreasing
Personally i think about a retest of 4800 lows before halving and would try to enter the market there. 1-2 weeks after halfing price should finish distribution/accumulation from february fakeout and break out of the descending channel. And FED keeps on printing meanwhile..
shortterm bearish --> 4800 --> 4-6 weeks
longterm bullish --> +20k --> bullrun starts end of april
THIS WILL BE EPIC!
We could possible be in a GIANT descending channel. Recent 10500 was just a fakeout and the dump the nessessary correction.
We are now approaching a deciding area:
- Rising wedge after dump already almost formed
- New resistance line from february 10500 fakeout
- SMA 50 resistance
- upper descending-channel-line support
- volume decreasing
Personally i think about a retest of 4800 lows before halving and would try to enter the market there. 1-2 weeks after halfing price should finish distribution/accumulation from february fakeout and break out of the descending channel. And FED keeps on printing meanwhile..
shortterm bearish --> 4800 --> 4-6 weeks
longterm bullish --> +20k --> bullrun starts end of april
THIS WILL BE EPIC!
Trade active:
Back below trendline. I think 7350 was a fakeout.
Trade closed: stop reached