BTC Weekly chart.
Down
Using the logarithmic regression band, it seems logical to place the downside of the triangle at the 0-log line.
This seems to indicate that the lowest we should expect BTC to go coming weeks (march, april) is usd 7.5k.
The 0.382 fiblevel is at this same height and suggests decent resistance at 7.8k.
Up
I don't expect a cup and handle situation (not drawn in this chart) based on the stochastic that is coming down combined with high chances of the RSI bouncing on the 55 level.
I do not believe coming weeks we will test the upside of the triangle. The RSI and MACD seem to indicate a downward move to the 7.8k level is more likely.
Because the 0-log line it is most likely we will just ride on it and then go up to the 9.7k again. Just watch the purple handdrawn line.
Nothing fancy, just admitting that the weekly oscillators indicate it's not likely to moon shortterm.
Down
Using the logarithmic regression band, it seems logical to place the downside of the triangle at the 0-log line.
This seems to indicate that the lowest we should expect BTC to go coming weeks (march, april) is usd 7.5k.
The 0.382 fiblevel is at this same height and suggests decent resistance at 7.8k.
Up
I don't expect a cup and handle situation (not drawn in this chart) based on the stochastic that is coming down combined with high chances of the RSI bouncing on the 55 level.
I do not believe coming weeks we will test the upside of the triangle. The RSI and MACD seem to indicate a downward move to the 7.8k level is more likely.
Because the 0-log line it is most likely we will just ride on it and then go up to the 9.7k again. Just watch the purple handdrawn line.
Nothing fancy, just admitting that the weekly oscillators indicate it's not likely to moon shortterm.