Market evaluation 08.06.2021 - BTC
BTC/USDT has been fluctuating inside an horizontal wedge (red and blue). Last night the trendline (blue), that supported the BTC-price for the last 3 weeks was broken.
This invalidates the wedge and leads to the further deminishment of the BTC-price. The new expected channel is marked by the long red and the dotted green line.
The new supportline is not proven, so that negative news or price development could define an other trend line.
If the upper trendline is broken through a rapid increase in Volatility and a major increase in price are to be expected.
Since the upper trendline (red) has been tested 5 times its reliability is reasonaby high.
This invalidates the wedge and leads to the further deminishment of the BTC-price. The new expected channel is marked by the long red and the dotted green line.
The new supportline is not proven, so that negative news or price development could define an other trend line.
If the upper trendline is broken through a rapid increase in Volatility and a major increase in price are to be expected.
Since the upper trendline (red) has been tested 5 times its reliability is reasonaby high.
כתב ויתור
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