Bitcoin Bearish Channel or Bull Flag?
After yesterday's sell-off, Bitcoin is regaining some lost ground. The reversal makes me thing about the reversal we saw after the last sell off; quick with lots of volume.
The main area of resistance, assuming bullish pressure will keep on, will be the 35k area. This because it's a round number, but especially because it will be around the area of the top trend line, making the channel complete.
At the moment, I'm edging towards the bearish channel set-up. Bitcoin needs to correct after going 10x in a year. On the other hand, if the price were to pierce through the channel top trend line, we might see the channel evolve in a bull flag, potentially launching us back to 40k.
Happy trading!
The main area of resistance, assuming bullish pressure will keep on, will be the 35k area. This because it's a round number, but especially because it will be around the area of the top trend line, making the channel complete.
At the moment, I'm edging towards the bearish channel set-up. Bitcoin needs to correct after going 10x in a year. On the other hand, if the price were to pierce through the channel top trend line, we might see the channel evolve in a bull flag, potentially launching us back to 40k.
Happy trading!
🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.