Bitcoin possible outcome short/neutral
I am new to technical analysis, here is a chart i created and my thoughts, please take a look!
I see that we are in a 8° uptrend with valid support and resistance lines.
these lines have been hit multiple times.
we have touched a resistance line that might push the price back down, staying within the 8° trend.
i would be looking for a second push to or past the that resistance line within the next few days after a price correction from hitting it the first time.
might require a buffer zone.
it might be a good shorting opportunity to profit on the correction and stabilization before the breach.
I would love some feedback on my chart.
I will be watching/editing for the position.
I see that we are in a 8° uptrend with valid support and resistance lines.
these lines have been hit multiple times.
we have touched a resistance line that might push the price back down, staying within the 8° trend.
i would be looking for a second push to or past the that resistance line within the next few days after a price correction from hitting it the first time.
might require a buffer zone.
it might be a good shorting opportunity to profit on the correction and stabilization before the breach.
I would love some feedback on my chart.
I will be watching/editing for the position.
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