Minor setback before Bitcoin try's again?
Hi traders. Thanks for tuning in for today's video update. Bitcoin took a tumble overnight, but price continues to hold above its base support for now.
Whether or not you value trendlines, it's funny how they sometimes line up. In today's analysis, there's a perfect touch to the longer-term downtrend that continues to form a descending triangle pattern with a strong support base at 18,600. For us, this base is very important at this point. A break lower, and we could see a new continuation/extension lower. If buyers can continue to hold above and form a new HL and test/break this week's high, this could be a new breakout/continuation higher, maintaining the current up leg.
We are looking for option two to pan out, but that's only if the support base can continue to hold.
We love to hear your feedback, so feel free to drop us a comment with your thoughts on Bitcoin at the moment.
Enjoy your Wednesday, and good trading.
Whether or not you value trendlines, it's funny how they sometimes line up. In today's analysis, there's a perfect touch to the longer-term downtrend that continues to form a descending triangle pattern with a strong support base at 18,600. For us, this base is very important at this point. A break lower, and we could see a new continuation/extension lower. If buyers can continue to hold above and form a new HL and test/break this week's high, this could be a new breakout/continuation higher, maintaining the current up leg.
We are looking for option two to pan out, but that's only if the support base can continue to hold.
We love to hear your feedback, so feel free to drop us a comment with your thoughts on Bitcoin at the moment.
Enjoy your Wednesday, and good trading.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。