GabrielMazzocato

GabrielMazzocato Updated 

It looks like BTC loves the Cup-and-Handle accumulation pattern. Maybe we are heading for a third one ? It supports the possibility of dropping to ~20k before the markup to confirm the primary bullish trend bouncing the third time in the external primary support line.

GabrielMazzocato

The reference I am using for support and resistance areas. I think we are "breathing a bit" before trying to challenge the resistance lines.

GabrielMazzocato Updated 

EN: The right shoulder and the new secondary trend are giving the hint of that primary trend line test. It would still be the second point of contact, if we actually test it. I have a feeling we'll bounce over it, looking at the naked chart like this, seeing the new billionaires' attitude of trying to centralize it, China's crackdown (again) on the mining...

GabrielMazzocato

Here we may postulate what will come next. We could just have a "Composite man" surprise and keep it sideways, but I think that trend is over.

GabrielMazzocato

Was that a spring?

GabrielMazzocato

In 2020-03-13 began the reversal of the last trend. Up until here, we had a down trend. In 2020-07-17, four months later, the down trend line was crossed, proposing a new up trend. During the end of September and the beginning of October of the same year, we had the second point of the current trend. Yet, we still need a third point to confirm the uptrend, as it...

GabrielMazzocato Updated 

Apparently we are either confirming a down trend or breaking it and establishing a new up trend. Next hours should tell more. Edit: 15min chart for intraday trading.