BTC seems to have succeeded crash recovery.
Before March's crash (shown as vertical yellow line), which mostly was due to COVID-19 news, BTC was following a gradual down trend (shown as the red trend line).
I believe that we've been through a recovery phase since the crash and we are almost there. The price is getting close to pre-crash trend line and is somehow showing respect to it. If you notice the few last candles you will see a downtrend (green line) with approximate same slope and just some offset. This means that BTC will soon see 6k again and first will have to test 6800 resistance.
This whole scheme will become meaningless if BTC breaks the red trend line sharply upward.
Please suppurt me with your likes and let me learn from you by your comments.
I believe that we've been through a recovery phase since the crash and we are almost there. The price is getting close to pre-crash trend line and is somehow showing respect to it. If you notice the few last candles you will see a downtrend (green line) with approximate same slope and just some offset. This means that BTC will soon see 6k again and first will have to test 6800 resistance.
This whole scheme will become meaningless if BTC breaks the red trend line sharply upward.
Please suppurt me with your likes and let me learn from you by your comments.
Nota
4H candle has just closed under the recovery trend line (Blue line). We expect movement to 6k.Dagangan aktif
Already met 6.8k. It looks like moving down to a lower resistance 6.6k probably.Dagangan aktif
Two more times touching and respecting the trend line (The one in Green on my chart)
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.