BTC breaks resistance, trend up but stuck in channel
Update to my BTC charts (linked below)
BTC has broken that resistance line on the chart, and is seeing a few green (or white) candles. If we get three white knights, we are looking to hit the top of the channel, which is easily around $31k.
However, that red box is kind of a deadly box, and it's gotta clear that to continue up.
Longer term: it's still stuck in the channel which some are calling an accumulation channel, but I disagree respectfully.
Short term: You can trade within the channel, but these are daily trades, and anything longer is not advised because of the overall movement in the channel.
TLDR: Short term long for 2-3 days, but longer term, not a good time to trade.
BTC has broken that resistance line on the chart, and is seeing a few green (or white) candles. If we get three white knights, we are looking to hit the top of the channel, which is easily around $31k.
However, that red box is kind of a deadly box, and it's gotta clear that to continue up.
Longer term: it's still stuck in the channel which some are calling an accumulation channel, but I disagree respectfully.
Short term: You can trade within the channel, but these are daily trades, and anything longer is not advised because of the overall movement in the channel.
TLDR: Short term long for 2-3 days, but longer term, not a good time to trade.
Commentaire:
Top hit, we are going back down again.
