BTCUSD - One more wave down and then up we go - log chart
While in the linear chart, BTCUSD has finally broken through the major bearish trendline, in the logarithmic chart it still hasn't.
That is indeed a huge mental barrier, and it also combines facing the 38.2% fib & 200EMA resistance.
However, on the bullish side & view there are some good news. A cup & handle is forming on the 1D chart infront of you, and perhaps an inverse H&S as well.
What it means is IMO we'll be going down to 7700-7800$ one more time (bottom trendline, StochRSI oversold) and from there breaching resistance and making our way back to welcoming VEGETA.
I will emphasize VOLATILITY IS HIGH. Many things can change, and they can do it quiet quickly.
Needless to say this isn't a financial advice and you are responsible for your own actions.
That is indeed a huge mental barrier, and it also combines facing the 38.2% fib & 200EMA resistance.
However, on the bullish side & view there are some good news. A cup & handle is forming on the 1D chart infront of you, and perhaps an inverse H&S as well.
What it means is IMO we'll be going down to 7700-7800$ one more time (bottom trendline, StochRSI oversold) and from there breaching resistance and making our way back to welcoming VEGETA.
I will emphasize VOLATILITY IS HIGH. Many things can change, and they can do it quiet quickly.
Needless to say this isn't a financial advice and you are responsible for your own actions.