đź’ĄBITCOIN BREAKING DESCENDING CHANNELđź’Ą
Hey! Hope you guys are doing well today.
⚡️I'll make this quick and simple. Basically BTC has been in this descending channel since that $28,000 drop failing to break out every time it's hit that channel top. Now we're finally looking like we're pushing past that, albeit not much it is something to consider and could possibly be a break out if it continues. If you follow me then you just have to look at XRP to see the result of what happened once we broke out that main descending channel I had noted down for my XRP followers.
⚡️Now the same will apply to Bitcoin and this could be a make or break it scenario. If we continue we could possibly see a relatively large move or breakout occur like XRP and alts did. On top of that we've got our EMA's which are doing well right now but if we fail to really sustain and support and stay out of the descending channel, then chances are we'll likely get pulled back in and if we do Bitcoin could fall a bit for sure and bring down the rest of the market in the process. So keep mind and watch these marks, they'll tell you something!
⚡️Yesterday I told you guys about those huge options expiry and forewarned we'd have some big moves and volatility and that's exactly what hit as you can see high double digit gains all across the crypto sector even including crypto stocks in play now. I'm happy to see we are looking like we're gonna breakout but keep mind as this can always fail and if it does, a mountain fall should likely occur then pulling us back into the descending channel.
⚡️I'm gonna leave the idea here but had to put this up for just how vital it could be and what it could mean for us. Now whether or not it'll be a good or rough thing will simply have to be seen but either way this is an important point on the chart for everyone to watch.
If you guys liked the idea or felt it was helpful or insightful a like and follow would be much appreciated, thank you!
~ Rock
⚡️I'll make this quick and simple. Basically BTC has been in this descending channel since that $28,000 drop failing to break out every time it's hit that channel top. Now we're finally looking like we're pushing past that, albeit not much it is something to consider and could possibly be a break out if it continues. If you follow me then you just have to look at XRP to see the result of what happened once we broke out that main descending channel I had noted down for my XRP followers.
⚡️Now the same will apply to Bitcoin and this could be a make or break it scenario. If we continue we could possibly see a relatively large move or breakout occur like XRP and alts did. On top of that we've got our EMA's which are doing well right now but if we fail to really sustain and support and stay out of the descending channel, then chances are we'll likely get pulled back in and if we do Bitcoin could fall a bit for sure and bring down the rest of the market in the process. So keep mind and watch these marks, they'll tell you something!
⚡️Yesterday I told you guys about those huge options expiry and forewarned we'd have some big moves and volatility and that's exactly what hit as you can see high double digit gains all across the crypto sector even including crypto stocks in play now. I'm happy to see we are looking like we're gonna breakout but keep mind as this can always fail and if it does, a mountain fall should likely occur then pulling us back into the descending channel.
⚡️I'm gonna leave the idea here but had to put this up for just how vital it could be and what it could mean for us. Now whether or not it'll be a good or rough thing will simply have to be seen but either way this is an important point on the chart for everyone to watch.
If you guys liked the idea or felt it was helpful or insightful a like and follow would be much appreciated, thank you!
~ Rock
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