Bitcoin BTC Movement -- uptrend channel
Updated
so after btc make few moves and show us it start to go on an uptrend channel we still need to look around and watch very closley
its very different if you look on a day charts or 30min-4hours charts
its seems to be pretty weak uptrend movement but its still there
and the uptrend keep tracks on the channel for few days now ( everytime it touch either side it bounce back down or up )
we have to keep looks pretty often to make sure its still in the channel
as long its in its looks like price will go up steady and slowly and can takes alts up trend together with it.
it it will break the channel up its seems to be a quick run up and can make most alts crash. but the BTC that we holding will get more value what means you need to think about the way we want to split out portfolio BTC -VS- ALTs
on the other way if BTC will break the channel down we can go back to retest the strong BTC floor prices we saw before and if it wont hold we can see some new low prices.
and thats also a scenario that can make ALTs prices crash.
if you look a around a week back we can see the there is pretty good amout of money in ALTs and even after prices went down because BTC price went down all alts got back in track pretty fast and thats a good sign of market stability; but again ! keep watching closely !!!
Good luck everybody and rememeber
PATIENCE IS THE KEY
DONT SELL AT LOSE! HOLD AND SELL IN PROFIT !
Adar
its very different if you look on a day charts or 30min-4hours charts
its seems to be pretty weak uptrend movement but its still there
and the uptrend keep tracks on the channel for few days now ( everytime it touch either side it bounce back down or up )
we have to keep looks pretty often to make sure its still in the channel
as long its in its looks like price will go up steady and slowly and can takes alts up trend together with it.
it it will break the channel up its seems to be a quick run up and can make most alts crash. but the BTC that we holding will get more value what means you need to think about the way we want to split out portfolio BTC -VS- ALTs
on the other way if BTC will break the channel down we can go back to retest the strong BTC floor prices we saw before and if it wont hold we can see some new low prices.
and thats also a scenario that can make ALTs prices crash.
if you look a around a week back we can see the there is pretty good amout of money in ALTs and even after prices went down because BTC price went down all alts got back in track pretty fast and thats a good sign of market stability; but again ! keep watching closely !!!
Good luck everybody and rememeber
PATIENCE IS THE KEY
DONT SELL AT LOSE! HOLD AND SELL IN PROFIT !
Adar
Note
sorry for the late updateas you can see BTC broke the channel on the down side and it keeps going down as expected if it will break the low end channel.
the low numbers from last week was around $9500 and it probably will be the strongest resistance we will see before new low will be here
watch closely !
Adar
Note
Our first strong support !Note
after we broke the channel and started to feel the bear chart btc seem to find some support around 10k and went to a very small uptrend channel keep watch closely it seems that we might feel the strength of the bull again !
im pretty sure we will see better prices after the 26th. and much better around the middle of feb !
good luck to us !
Adar
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.