Bitcoin is moving in an uptrend along a trendline, and it has now reached that trendline. My expectations are as follows:
* A bounce from support and continuation upward.
* A support break with a fakeout, followed by an upward move.
* A deeper correction with a fakeout, then another upward move.
The blue zone that has been marked is a good area to place staggered buy entries.
This analysis would be invalidated only if a whale candle breaks the trendline — in that case, none of these three scenarios would be valid, and taking a short position in this trend would not be logical either. ✅
* A bounce from support and continuation upward.
* A support break with a fakeout, followed by an upward move.
* A deeper correction with a fakeout, then another upward move.
The blue zone that has been marked is a good area to place staggered buy entries.
This analysis would be invalidated only if a whale candle breaks the trendline — in that case, none of these three scenarios would be valid, and taking a short position in this trend would not be logical either. ✅
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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.