Today I am reviewing the 1D (daily) chart for BrainTrust (BTRST), which is an altcoin.
The price has been moving in a descending parallel channel (bearish pattern) since October 2021. It is important to note that within the parallel channel the price is above the median. If the prices breaks below the median, we may be in for a lower price.
I am also looking at the Relative Strength Index (RSI), which is hovering at the trendline created in October 2021. If this breaks, we could also see a lower price.
Concerning: I also added in the charts the Fibonacci Retracement which shows the channel may get supported at the 2.618 level or about $0.41 - $0.42. This would be a 90-95% drop from current price.
What are your opinions on this? I love reading your comments below.
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Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk