[BTC] Walkin Right Up Our Little Channel -> 19.2k, Look at THAT!
Our lines from Friday worked out great here!
Price about to hit some serious Resistance though at 19.2.
Right now it's being squeezed between the bottom of the upchannel and top of the downchannel... sure enough right when RSI broke through the purple line and incidentally the white line on the chart as well, Price popped/reacted noticeably as expected:
Let's see what happens next B).
Price about to hit some serious Resistance though at 19.2.
Right now it's being squeezed between the bottom of the upchannel and top of the downchannel... sure enough right when RSI broke through the purple line and incidentally the white line on the chart as well, Price popped/reacted noticeably as expected:
Let's see what happens next B).
Commentaire:
We also just broke under a RW structure, we'll see if it has enough Bear power to knock Price out of the Zone...
Commentaire:
If it does break under the purple box, we can even estimate the rate of decay here...
Definitely down to 18500 range and 18k after that if we don't get a bounce confirm.
Price is increasing substantially faster than it decays right now.
Definitely down to 18500 range and 18k after that if we don't get a bounce confirm.
Price is increasing substantially faster than it decays right now.
Commentaire:
RSI gonna have to make some big decisions this month, let's see if it can hold the uptrend and how that affects Price Action...
Data analyst with a passion for best fit lines B)
I've added the two most likely Consolidation Zones above and below our current one.
Seems to be holding price well, shorting above and longing below as it bounces back and forth could be a great strategy the next couple weeks...
Then short once it breaks under the bottom Zone and long when it breaks over the top one (and green line too!).