Since its last ATH on 14th of april, BTC has been in a downtrend indicated by the main channel.
It has been in 3 sequential, parallel channels within this downtrend, including the bloodshed on the 19th of may - post which it has moved into somewhat of a symmetrical triangle and just seems to be breaking out of it.
A strong move out of the triangle formation to the resistance area of $41-
42K is good.
A weak move out can lead it to a strong zone of resistance, where the main downtrend meets the42K resistance band along with the median of the ascending blue parallel channel - with the potential of killing the uptrend and a sharp fall down to $30-$32k zone.
Any moved above42K with a retest is extremely bullish - especially for the high cap & mid cap altcoins.
#godspeed
It has been in 3 sequential, parallel channels within this downtrend, including the bloodshed on the 19th of may - post which it has moved into somewhat of a symmetrical triangle and just seems to be breaking out of it.
A strong move out of the triangle formation to the resistance area of $41-
42K is good.A weak move out can lead it to a strong zone of resistance, where the main downtrend meets the
42K resistance band along with the median of the ascending blue parallel channel - with the potential of killing the uptrend and a sharp fall down to $30-$32k zone.Any moved above
42K with a retest is extremely bullish - especially for the high cap & mid cap altcoins.#godspeed
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.
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.