BitcoinLong
BTC bullish scenario - short term bearish
Mapping out BTC sideways consolidation that could wreak havoc on ALTS.
Looking at the daily chart, this consolidation is still bullish as BTC price action is still likely respecting this ascending channel.
However, each move down on BTC could mean a significant dump on alt coins.
IMO, based on how the chart looks, BTC price still needs to come and test the bottom and coincidentally there is a huge FVG left when BTC rose impulsively. In all likelihood, I am expecting at the very least for a quick wick down to fill the gap before BTC can then start some bullish price action.
Looking at the daily chart, this consolidation is still bullish as BTC price action is still likely respecting this ascending channel.
However, each move down on BTC could mean a significant dump on alt coins.
IMO, based on how the chart looks, BTC price still needs to come and test the bottom and coincidentally there is a huge FVG left when BTC rose impulsively. In all likelihood, I am expecting at the very least for a quick wick down to fill the gap before BTC can then start some bullish price action.
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Telegram: t.me/theNinjasDojo
TV Referral link: tradingview.com/pricing/?share_your_love=jod45m
TV Referral link: tradingview.com/pricing/?share_your_love=jod45m
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.