$3000 move to the downside ($25,999) possible s/r flip
My last post was a weekly chart which won't play out for at least a week or two, probably close to a month maybe longer, but the 30 minute chart shows some juicy data/information. 👍
I've founded this ascending channel we've been steadily climbing since December 16th. Please note we've reached 3 validation points on the downtrend trend line (this is a bearish sign of sell pressure in future price action) It takes 3 touches to confirm a trend direction and we only have 2 on the downside. So, if i was placing a bet here i'd say the probability of the next move is more so leaning towards the downside.
$30,000 is a massive psychological resistance level and im expecting -30-70% pullbacks in Q1 2021.
Get ready for another super volatile year trading or investing into bitcoin and the crypto community.
Mass adoption is coming in the next few years.
I've founded this ascending channel we've been steadily climbing since December 16th. Please note we've reached 3 validation points on the downtrend trend line (this is a bearish sign of sell pressure in future price action) It takes 3 touches to confirm a trend direction and we only have 2 on the downside. So, if i was placing a bet here i'd say the probability of the next move is more so leaning towards the downside.
$30,000 is a massive psychological resistance level and im expecting -30-70% pullbacks in Q1 2021.
Get ready for another super volatile year trading or investing into bitcoin and the crypto community.
Mass adoption is coming in the next few years.
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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.