After several weeks with a very strong uptrend the BTC price has hit an important area where the direction for the next months is going to be decided.
Breaking above $300 would signal that the uptrend is here to stay and that $400 is in reach. Falling below $250 might mean that the downtrend resumes one last time until $200 is confirmed as bottom.
Comentários
ChartArt
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A longer term trend:
ChartArt
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The medium term trend:
ChartArt
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Bitcoin is far outside the longest trend direction using BTC China data since 2012
nimbus
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How did you draw this tunnel?
I see no important price point of this tunnel's upside resistant ceiling and downside support bottom line.
bbrox
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Agree the tunnel looks pretty random.
bbrox
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except the midterm downward tunnel.
nimbus
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Bravo for your analysis.
It seems the validity of the recent cup with handle pattern is vanishing. And which side do you think the market will choose, break upward or stay low.
ChartArt
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Too early to tell, but most likely dripping lower, if there is not a strong bounce this Friday.
nimbus
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it seems a double bottom handle is forming. waiting for the break.