Updating my prediction. One thing to note about how I draw trend channels.
Every trend break needs a new extreme. So if trend is up, we'll have a correction that breaks the channel, then when the sellers fade away, prices will attempt to make a new extreme.
This is fundamental to how I track price action.
So, how does that relate to my updated BTC chart?
Initially I felt that the larger green channel (which just revealed itself last week after the steep drop), needed to have it's own Break-2-NewHigh.
But after close examination, I feel that we've already had that move play out, as seen by the thick green line.
So at this point, I feel that BTC has explored the highs (3 times), and will now seek to challenge the support levels.
🤙🏽
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
Updating my prediction. One thing to note about how I draw trend channels.
Every trend break needs a new extreme. So if trend is up, we'll have a correction that breaks the channel, then when the sellers fade away, prices will attempt to make a new extreme.
This is fundamental to how I track price action.
So, how does that relate to my updated BTC chart?
Initially I felt that the larger green channel (which just revealed itself last week after the steep drop), needed to have it's own Break-2-NewHigh.
But after close examination, I feel that we've already had that move play out, as seen by the thick green line.
So at this point, I feel that BTC has explored the highs (3 times), and will now seek to challenge the support levels.
🤙🏽