Price action has been range-bound for months following initial pandemic crash and recovery.
Finding support at top of channel as 168 resistance develops as support.
Volume swell as new support holds indicates confidence in the move.
APPF looks to be ready for markup and price discovery. Invalidation below 165 indicates more range-bound movement.
The 2018-2019 BTC bear market is a story of leveraged hope and devastation, of greed and liquidation.
This is what I'd like to see
to be bullish again on BTCUSD
The massive bull run of 2017 gives some context for the slow bleed of BTCUSD in 2018.
While the failure of the parabolic advance in '13-'14 retraced more than 80%, the 2018 bear market has only retraced 61.8%, providing an argument for BTCUSD sinking further to $4000 as the bears continue to show dominance.
I am not an expert, and this is not investment advice.
A bounce in price action may indicate reversal of a trend, but we need to see increasing volume to confirm the the reversal.
Without confirmation from volume, we are seeing a low-confidence bounce.
Macro log perspective on ETHUSD shows a massive bull pennant forming since April 20.
Pole height: ~$400
Breakout around ~$350 (conservative)
Price target: $750
Major support: $300
Solid R:R here
