Patience is KEY!
Diupdate
As Bitcoin is creating LH and HL, it is slowly squeezing and preparing for a big break out. If the price fails to bounce up off the support line, Bitcoin will likely break down and retest the support zone.
With Volume trading bellow its 20 MA, the RSI slowly decreasing toward the bottom of the channel, and the 14, 32, 50 MA nearly converging all the signs point to Bitcoin breaking down-wards in the short term. However since the price is still trading below the 100 MA there is still a little room for a break out upwards and a retest on the last LH.
All that is left to do is to be patient and wait until Bitcoin decides which direction to breakout.
Regardless of the direction the breakout will bring back the crazy Bitcoin volatility that we all love!
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*This information is not trading advice and is to be used for educational purposes only!
With Volume trading bellow its 20 MA, the RSI slowly decreasing toward the bottom of the channel, and the 14, 32, 50 MA nearly converging all the signs point to Bitcoin breaking down-wards in the short term. However since the price is still trading below the 100 MA there is still a little room for a break out upwards and a retest on the last LH.
All that is left to do is to be patient and wait until Bitcoin decides which direction to breakout.
Regardless of the direction the breakout will bring back the crazy Bitcoin volatility that we all love!
Thanks for reading!
If You like this TA please hit the LIKE button!
Also, leave a comment with Your thoughts and feedback!
*This information is not trading advice and is to be used for educational purposes only!
Catatan
BTC has broken out to the down side and we are in for the final shakeout of this Bear market. Moving forward there is little support at 3.5 k and we have now created a strong resistance level at 6 k. As a result we can expect high volatility of up to 50% in the up coming months if not weeks.
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