Downchannel breakouts
BTCUSD is still working its way out of the downchannel 1/3 drawn in white from the December ATH.
Downchannel 3/3 in red had a failed escape before the successful breakout, and breakout from downchannel 2/3 in orange led to the peak, backtest, and most recent climb.
The possibility of hitting the lower half of the current upchannel in blue is fairly high, but shouldn't cause any catastrophic movement unless the volatility causes it to bail out of the channel completely.
If the current support levels hold the price above the bottom half of the current blue upchannel, I'd continue to expect breakout from the white downchannel 1/3, shown as the blue rectangle on the right. (Though BTCUSD often jumps the gun on what is expected)
Vdub sell was recently triggered, for what that's worth.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
Downchannel 3/3 in red had a failed escape before the successful breakout, and breakout from downchannel 2/3 in orange led to the peak, backtest, and most recent climb.
The possibility of hitting the lower half of the current upchannel in blue is fairly high, but shouldn't cause any catastrophic movement unless the volatility causes it to bail out of the channel completely.
If the current support levels hold the price above the bottom half of the current blue upchannel, I'd continue to expect breakout from the white downchannel 1/3, shown as the blue rectangle on the right. (Though BTCUSD often jumps the gun on what is expected)
Vdub sell was recently triggered, for what that's worth.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
Work the muck, and I'll see y'all come harvest time.
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