Hey everyone, it seems to me that BTC is rather following a bullish trajectory than a bearish one. Twitter is full of guys telling us to look towards sub 40K levels. I can see their point, but I rather concentrate on what the chart is telling me:
- BTC is meandering around the established green trend line I mentioned before
- BTC produces an H4 continuation signal (long) once we flip $41.570
- BTC produces an H4 counter signal (short) once we lose $39.250
- BTC needs to claim and break the red trend line, which has acted as resistance since 05.04.
The volume is still low, which could indeed point into the direction of a continuation of the latest correction. Let's see how this plays out.
- BTC is meandering around the established green trend line I mentioned before
- BTC produces an H4 continuation signal (long) once we flip $41.570
- BTC produces an H4 counter signal (short) once we lose $39.250
- BTC needs to claim and break the red trend line, which has acted as resistance since 05.04.
The volume is still low, which could indeed point into the direction of a continuation of the latest correction. Let's see how this plays out.