BTC Sharp Channel Down

TradingView

Go PRO

Short

Bitcoin / Dollar (BITFINEX:BTCUSD)

BITFINEX:BTCUSD Bitcoin / Dollar

We couldn't break out of the larger channel (yellow) and broke down out of a wedge . Like a similar pattern and setup we had a sharp fall. I think we'll be in a similar steep channel down for a few days. Looking at targets 555-550 for small bounce and then 540-545 for a bigger bounce.

***update. We just tagged 545. I think we may have a bounce then back down to tag 537ish and then we may have serious attempt to crack the yellow channel***

Those are a lot of lines !! Keep up the hard work :)

Ahmed-J

hehe thanks. My architecture work is creeping into my charting :)

BullFish

Haha, interesting to hear that. What sort of architecture do you do?

johnrfraser

hey John, I mostly work on residential projects at the moment. I'm doing contract work from home and so have a chance to get some serious charting done in between work and can spend time watching the charts while not annoying my boss :)

BullFish

Hi JMatth, thanks so much for your EW samples the other day.
Guess we've hit your yellow channel now!
Hope the architecture isn't taking a back seat during all this action...I'm a 3D artist (interiors) so know how it feels ;-)

Community & Tools

House Rules Moderators People Chat Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar AppStore

For Business

Website & Broker Solutions Widgets Charting Library Trading Terminal Brokerage Integration Advertising Referral Program Content Streams & RSS

Support

Status Page Blog Feature Request Help & Wiki FAQ Contacts

About

How It Works Features Compare Plans Press Terms of Use Risk Warning Privacy Policy Cookies Policy

Made with

From the creators of MultiCharts

Select market data provided by ICE Data services