Bitcoin has now painted a Descending Channel.
Price could still be working around this channel until it matures.
This Daily Chart must form a Bullish Divergence to reveal the weakness of the Bears.
Until then, the Bears will continue to control this market in the short term until they get exhausted.
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Price could still be working around this channel until it matures.
This Daily Chart must form a Bullish Divergence to reveal the weakness of the Bears.
Until then, the Bears will continue to control this market in the short term until they get exhausted.
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
הערה:
This Drop To The 78.6% to 84% Fib Level Could Be The Move That Will Create A Bullish Divergence On This Daily Chart.
הערה:
Bulls are patiently awaiting for their prey!
Soon the bears will be exhausted and the bulls will start to feast and gore their way to the top of this channel.
Soon the bears will be exhausted and the bulls will start to feast and gore their way to the top of this channel.
הערה:
Bulls could be looking to the 55W EMA for potential support and price reversal at the $7925 level.
הערה:
Update on the Descending Channel
