Bitcoin is going up, yes.
But please don't forget to zoom out a little bit on your chart and see the bigger picture.
We are still in the downtrend channel. As you can observe, we're getting close to the upper band of the regression channel which is our Dynamic resistance. Also, there is a thick price range which I've highlighted yellow on the chart. That's the Static Resistance.
Be very careful with your positions.
And again, Don't pay any attention to people yelling Bulls and Bears in the Cryptocurrency chat room here on TradingView.
Most of them don't even know the fundamentals of currencies and think if the price drops, it's bullish action. The fact is that if the price drops down, it's the most bullish scenario we can experience because it will help the price to fill the gaps and touch higher highs:
Thank you, I'll keep this chart updated.
But please don't forget to zoom out a little bit on your chart and see the bigger picture.
We are still in the downtrend channel. As you can observe, we're getting close to the upper band of the regression channel which is our Dynamic resistance. Also, there is a thick price range which I've highlighted yellow on the chart. That's the Static Resistance.
Be very careful with your positions.
And again, Don't pay any attention to people yelling Bulls and Bears in the Cryptocurrency chat room here on TradingView.
Most of them don't even know the fundamentals of currencies and think if the price drops, it's bullish action. The fact is that if the price drops down, it's the most bullish scenario we can experience because it will help the price to fill the gaps and touch higher highs:
Thank you, I'll keep this chart updated.
Trade closed: target reached:
