BTC AT TOP OF DOWNWARD CHANNEL
Sorry for the messy chart but take note of 2 things on this daily chart.
1) BTC at 50 FIb level and up against daily 50EMA
2) BTC is at top of 2 important descending channels
The middle of the channel will be tested first but I think we will retest bottom. See the blue lines I added.
There will be a good fight between bears and bulls here but if we follow the trend is your friend advice, we are headed back down as there will be profit taking soon enough.
This is not advice.
Good luck and dont forget to like if you agree.
1) BTC at 50 FIb level and up against daily 50EMA
2) BTC is at top of 2 important descending channels
The middle of the channel will be tested first but I think we will retest bottom. See the blue lines I added.
There will be a good fight between bears and bulls here but if we follow the trend is your friend advice, we are headed back down as there will be profit taking soon enough.
This is not advice.
Good luck and dont forget to like if you agree.
Penafian
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