Hello guys , i hope you all having a great day.
So Bitcoin is currently showing to me an uptrend channel formation as you can see we touched the top already and are reaching to its down part of the channel, i think its very important to see how btc ill react here because if it bounces there it confirms our formation and our target aswell oon the top of the channel.
What happens if it breaks down?? We still have our long term uptrend that ill support us trough and must likely makes bounce again , i would not advise to trarde right now to see how this can react , wait for a confirmation of our channel formation and go long if it is confirmed.
You can also check the formatioon on RSI and a bullish divergence in macd aswell, so all signs that we will eventually bounce up
So Bitcoin is currently showing to me an uptrend channel formation as you can see we touched the top already and are reaching to its down part of the channel, i think its very important to see how btc ill react here because if it bounces there it confirms our formation and our target aswell oon the top of the channel.
What happens if it breaks down?? We still have our long term uptrend that ill support us trough and must likely makes bounce again , i would not advise to trarde right now to see how this can react , wait for a confirmation of our channel formation and go long if it is confirmed.
You can also check the formatioon on RSI and a bullish divergence in macd aswell, so all signs that we will eventually bounce up