Bitcoin's one-hour trend is showing the exact same downslope (degrees change with chart resolution, but the relative lines stay the same) as the chart demonstrated mid-April. This may indicate more trying times to come, at least in the short term.
The make-or-break is still $27250. A fall below that critical support level might trigger a more prolonged downtrend. One the other hand, a run above $30000 is still the zone where I will enter longs.
Happy Wednesday & happy trading!
wbburgin
The make-or-break is still $27250. A fall below that critical support level might trigger a more prolonged downtrend. One the other hand, a run above $30000 is still the zone where I will enter longs.
Happy Wednesday & happy trading!
wbburgin
Comment:
Great to see that BTC broke through the downward channel, longs have been opened again.
Comment:
Correction: longs not opened but watching if it can cross the volatility MA once again. Trend is uncertain because it looks like it's been rejected by the 100-hour volatility-weighted MA three times.
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