BTCUSD Still not out of the downtrend March 2nd 2022 REVISED
I am going to make here some observations for you to arrive at your own conclusions and what the changes I made mean:
The red wide lower rectangle combined with the three upward parallel black lines is an area of low volume, it is a weak area where I think it will meander for a while, up and down to gather strength either upward or downward.
The three blue arrows are the different angles that it may take going down to 35xxx, depending on the amount volume; but it may quickly spike to the bottom of the green channel like it did Jan and Feb 24th to complete a triple bottom; before resuming its way up.
Be cautious as it may break the upward green channel to continue its downward trend down to 29xxx.
REMEMBER it is in an UPWARD TREND within a STRONG LOING TERM DOWN TREND.
Also notice that the volume has increased as it goes down.
The alarm can be used as a (dash yellow line) can be used as a stop loss.
Good Luck!
The red wide lower rectangle combined with the three upward parallel black lines is an area of low volume, it is a weak area where I think it will meander for a while, up and down to gather strength either upward or downward.
The three blue arrows are the different angles that it may take going down to 35xxx, depending on the amount volume; but it may quickly spike to the bottom of the green channel like it did Jan and Feb 24th to complete a triple bottom; before resuming its way up.
Be cautious as it may break the upward green channel to continue its downward trend down to 29xxx.
REMEMBER it is in an UPWARD TREND within a STRONG LOING TERM DOWN TREND.
Also notice that the volume has increased as it goes down.
The alarm can be used as a (dash yellow line) can be used as a stop loss.
Good Luck!
Trade active:
The same triple bottom pointed out in my DOGE analysis apply here,
take a look at the similarities:
DOGE May find support at 0.09xx by then end of March
take a look at the similarities:
DOGE May find support at 0.09xx by then end of March
