Quite stable downtrend for 3 weeks, why would it change?
Hi,
I am quite new so please don't hesitate to tell me this doesn't make sense and why. I have read numerous much more complicated analysis and it seems most of those still are positive.
To me it looks like BTC is running out of time and will break the current support level in a matter of days max, unless it indeed breaks out of this current resistance line.
I have no clue about possible resistance zones once it does dive but maybe the historical trend lines might offer support? That does seem to explain why 8-9k, 6k and 3k are seen as probable bottoms by many.
Let's hope this chart is completely wrong. If you know it is and why: please let me know!
I am quite new so please don't hesitate to tell me this doesn't make sense and why. I have read numerous much more complicated analysis and it seems most of those still are positive.
To me it looks like BTC is running out of time and will break the current support level in a matter of days max, unless it indeed breaks out of this current resistance line.
I have no clue about possible resistance zones once it does dive but maybe the historical trend lines might offer support? That does seem to explain why 8-9k, 6k and 3k are seen as probable bottoms by many.
Let's hope this chart is completely wrong. If you know it is and why: please let me know!
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