Hello my friends!
The price of Bitcoin ( BTC ) might be moving in a Descending Channel on the 1-day time-frame (purple box).
We are currently moving in our Key Area, from where most of the volatility happens according to our backtracking.
A strong move is expected. Since the SMA 100 acted as a strong resistance and many indicators are giving us a sell signal,
we can determine the direction of the move.
The ADX indicator is signaling the strength of a trend. Please take a look at the yellows circles to see what we can expect.
According to our Fractal (price movement from the past) we could touch our Support at the 6800.00 area within the next 4 weeks.
I will keep you updated!
If you have any questions in this matter, fell free to join our free Discord Channel.
This invitation-link expires in 24 hours
-> discord.gg/98tq4J <-
What is your trading plan for the next weeks? Feel free to share your ideas in the comments section.
You can also support me on Patreon and enjoy some great benefits.
Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
The price of Bitcoin ( BTC ) might be moving in a Descending Channel on the 1-day time-frame (purple box).
We are currently moving in our Key Area, from where most of the volatility happens according to our backtracking.
A strong move is expected. Since the SMA 100 acted as a strong resistance and many indicators are giving us a sell signal,
we can determine the direction of the move.
The ADX indicator is signaling the strength of a trend. Please take a look at the yellows circles to see what we can expect.
According to our Fractal (price movement from the past) we could touch our Support at the 6800.00 area within the next 4 weeks.
I will keep you updated!
If you have any questions in this matter, fell free to join our free Discord Channel.
This invitation-link expires in 24 hours
-> discord.gg/98tq4J <-
What is your trading plan for the next weeks? Feel free to share your ideas in the comments section.
You can also support me on Patreon and enjoy some great benefits.
Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
