Bitcoin Trend Analysis - Where is Bitcoin headed?
Bitcoin (BTC) lost support at 11.4k and fell into its long-term trend channel (Figure 1), but has yet to breakout of it's downward trend.
What to expect?
Bitcoin's RSI is low and the MACD is pointing down, but has yet to signal a trend reversal. I expect the price to continue navigating through the long-term channel and continue to follow the downtrend until it reaches the support of the long-term channel.
Recommended Guidelines to Follow:
Wait for the Break Out
Open your position by following the trend
Set your target limits
** Always set your stop losses when long
I wish you MASSIVE profits on all your trades,
CryptoTA
Follow my blog --> steemit.com/@jmazo
What to expect?
Bitcoin's RSI is low and the MACD is pointing down, but has yet to signal a trend reversal. I expect the price to continue navigating through the long-term channel and continue to follow the downtrend until it reaches the support of the long-term channel.
Recommended Guidelines to Follow:
Wait for the Break Out
Open your position by following the trend
Set your target limits
** Always set your stop losses when long
I wish you MASSIVE profits on all your trades,
CryptoTA
Follow my blog --> steemit.com/@jmazo
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