So looking at the market eagerness yesterday i was kinda hoping btc will follow the shortcut of getting above 50k alas,it broke below my while mini trend line and followed the bearish flag channel line.
So i revisited my original trend line on both the daily and weekly tf to get a better picture how this could go in coming days or weeks which actually is the main deal if we are to have a solid btc price movement structure and not have bloody tuesday happen to the market again
I hate saying it but $btc is currently trading within this short term bearish flag channel that could get us down to 45-44k (pink line) support retest (both diagonal and horizontal) that rejoins the blue trend & continues up.
My expectation is that we don't get down below 40k .Although some analysts believe it's still a great possibility but i don't think so because if there is one thing i have learned doing TA, trend lines are actually more authentic than all those glossary indicators ..at least to me. One of the reason my charts is always a feast of lines ...LOL!(imaginary and otherwise). Also on-chain analysis have been confirming this accumulation with hold portfolios within this 2 days. The strong hands ain't letting their btc go .
Be expecting Alts irregular movements. Some will still find a way to hold their lines,print new high ,some will be waiting strictly on btc slightest movement.
So i revisited my original trend line on both the daily and weekly tf to get a better picture how this could go in coming days or weeks which actually is the main deal if we are to have a solid btc price movement structure and not have bloody tuesday happen to the market again
I hate saying it but $btc is currently trading within this short term bearish flag channel that could get us down to 45-44k (pink line) support retest (both diagonal and horizontal) that rejoins the blue trend & continues up.
My expectation is that we don't get down below 40k .Although some analysts believe it's still a great possibility but i don't think so because if there is one thing i have learned doing TA, trend lines are actually more authentic than all those glossary indicators ..at least to me. One of the reason my charts is always a feast of lines ...LOL!(imaginary and otherwise). Also on-chain analysis have been confirming this accumulation with hold portfolios within this 2 days. The strong hands ain't letting their btc go .
Be expecting Alts irregular movements. Some will still find a way to hold their lines,print new high ,some will be waiting strictly on btc slightest movement.
