Hello Friends,
Here on this chart we can see a Descending Channel, there is a possibility of reaching one of two targets. If we break above this upper channel then BTC could see the higher target as indicated. However if BTC gets rejected at this upper portion of the channel, then we could see a test of the bottom and a possible breakdown towards a measured moved towards the lower target as indicated.
Descending channels are bullish by nature but the market has a way of disproving TA just as the weather man can get it wrong. Make sure you have a solid strategy in place before you invest to minimize your losses, because there is no perfect TA and TA can fail you at the best of times.
Details on the Chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
Here on this chart we can see a Descending Channel, there is a possibility of reaching one of two targets. If we break above this upper channel then BTC could see the higher target as indicated. However if BTC gets rejected at this upper portion of the channel, then we could see a test of the bottom and a possible breakdown towards a measured moved towards the lower target as indicated.
Descending channels are bullish by nature but the market has a way of disproving TA just as the weather man can get it wrong. Make sure you have a solid strategy in place before you invest to minimize your losses, because there is no perfect TA and TA can fail you at the best of times.
Details on the Chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
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4hr bear flag repeat pattern and retrace to a newer low as indicated on the chart.
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