Obviously I'm not the first to mention or see this, but figured I'd share and discuss to see what everyone else thinks about what might happen.
Right now we're still in a broader downtrend channel, but the pump last night (due partly, in my opinion, to the EU crypto regulation roundtable news + Goldman-Sachs backed 'Circle' purchasing Poloniex - covered here) has potentially taken us out of this smaller channel. I guess we'll see by tomorrow.
This overall downtrend on the 4h or 1d charts looks to me like it will come to a point somewhere toward the end of March, but i think we'll probably be out of the downtrend by then, especially with the G20 summit looking to discuss broad regulation and approach to crypto by then (www.ft.com/content/0...e8-9650-9c0ad2d7c5b5).
Right now we're still in a broader downtrend channel, but the pump last night (due partly, in my opinion, to the EU crypto regulation roundtable news + Goldman-Sachs backed 'Circle' purchasing Poloniex - covered here) has potentially taken us out of this smaller channel. I guess we'll see by tomorrow.
This overall downtrend on the 4h or 1d charts looks to me like it will come to a point somewhere toward the end of March, but i think we'll probably be out of the downtrend by then, especially with the G20 summit looking to discuss broad regulation and approach to crypto by then (www.ft.com/content/0...e8-9650-9c0ad2d7c5b5).
Comment:
We are now approaching the main downward trendline resistance, this will be the fourth touch and if we do touch that line it means the inverse H&S is complete. Can we break the downtrend in the next 24 hours?