BITCOIN'S RISING CHANNEL AND UNUSUAL LINE CHART OVERVIEW
Hello my friends, today I want to talk with you about BTC .
This is experemential idea, I have long wanted to publish such a post like this, so if you like such reviews, then please write a comment and put like button.
If you do not like it, please write what exactly and what ideas you would like to see, thank you.
On chart you can see uptrend 2020-2021 when price rose up from 10k to 60k.
Then I indicate point where uptrend was ended because uptrend line was broken.
On logarifmic chart now we in dowtrend and can see the pattern of continuing movement.
This is Upward Channel and price now trades inside at bottom part of this channel.
Price have huge chances to break it down and continue to decline.
If this happens we will see a 3 main targers:
First target is strong support level 30.000 USD
Next target is my main target - 25.000 USD
And third target is previous ATH at 20.000 USD
But if BTC will break this upward channel in this case target if this pattern is level 25.000 USD.
This is just alternative options for those people who believe in eternal growth and the fact that bitcoin will continue to grow.
Just know there is no eternal growth, especially if we are talking about the cryptocurrency market 😉
So be ready for such scenario.
This is an article, not financial advice, always do your own research.
If you have any questions, you can write it in comments below, and I will answer them.
And please don't forget to support this idea with your like and comment, thank you.
This is experemential idea, I have long wanted to publish such a post like this, so if you like such reviews, then please write a comment and put like button.
If you do not like it, please write what exactly and what ideas you would like to see, thank you.
On chart you can see uptrend 2020-2021 when price rose up from 10k to 60k.
Then I indicate point where uptrend was ended because uptrend line was broken.
On logarifmic chart now we in dowtrend and can see the pattern of continuing movement.
This is Upward Channel and price now trades inside at bottom part of this channel.
Price have huge chances to break it down and continue to decline.
If this happens we will see a 3 main targers:
First target is strong support level 30.000 USD
Next target is my main target - 25.000 USD
And third target is previous ATH at 20.000 USD
But if BTC will break this upward channel in this case target if this pattern is level 25.000 USD.
This is just alternative options for those people who believe in eternal growth and the fact that bitcoin will continue to grow.
Just know there is no eternal growth, especially if we are talking about the cryptocurrency market 😉
So be ready for such scenario.
This is an article, not financial advice, always do your own research.
If you have any questions, you can write it in comments below, and I will answer them.
And please don't forget to support this idea with your like and comment, thank you.
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