Ryloth

BTC to drop, then return to channel in a blaze of mediocrity!

KRAKEN:BTCUSD   Bitcoin
Resistance over the RSI will drop the price below the trend channel, but when when the RSI breaks through the resistance we'll pop back up into the channel. Sell target after that is the top of the channel around 10.2k.


Another scenario is that the bottom of the trend channel becomes a heavy resistance and we eventually fall down to better prices. I hope for the latter but expect the former.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.