Have BTC changed its Long Term channel for a less bullish one?

2021年8月21日

BTC is still very bullish in the long term, but even though last days have been really good, don't forget we are still in a correction and we are about to reach 61.8% fibonacci's retracement from 28.5k minimum.

The last drop left us with a very unstable medium term bullish channel so I don't think drop has ended here.

In red you can see the previous long term channel, in bold black what could be the new one.

I see 3 objectives to reach before resume the bullish trend:

1) 31k as first stop

2) 18k-20.5k as final bottom if we resume on the (red) long term channel

3) 11Kish if we are going to move towards a less bullish long term channel (bold black).

I buy on retracements only, so it is still not time for me to buy, but to sell what I have left and wait patiently for a new opportunity.