BTCUSDT - Ascending Channel or Correct to $4700

BINANCE:BTCUSDT   Bitcoin / TetherUS
For the last week BTCUSDT has stayed more or less calm inside of its ascending channel on track to reach $5600. It has had one pullback that fell just outside the bounds of this channel before quickly rebounding back.
We expect one of two scenarios to happen in the immediate future:

1. BTCUSDT will retest its previous high of $5422 and be rejected, hover near this resistance for a while before pushing through.
2. BTCUSDT will lose steam around the middle of it's channel (about $5350) and make a lower low to 4700 - 4800 complete an ABC correction before it's 5th wave upwards.

We recommend setting buys around the 4700 - 4800 in case scenario 2 ends up occurring.


To set laddered buys, stoploss and take profit simultaneously, and monitor your signals with alerts you can use:
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out