Hi all, it has been a short while since I have made a post. I haven't posted much altcoin analysis as sometimes it is better to be silent than to force an analysis where you don't truly believe it is useful or educational. To me, most channel ideas I could see were weak and drops in BTC meant they would be broken easily and indeed, this happened.
Instead, I thought I would post a simple BTC analysis. There is a tonne of BTC analysis out there which is why I never thought there was a real need for me to post one. Some ideas use lots of indicators, some find similarities to historic movements in BTC (or even the stock market from years ago...hmm), some are pure HOPIUM but a few are useful and educational.
Here, I have nothing fancy. A simple descending channel that BTC has been trading in since the top. We can look for a breakout as it reaches the top of the channel but it is likely we will be met with strong resistance and trade downward in the channel for a little longer. Macro factors affecting the stock market and cryptocurrency are in play so we must be cautious.
Always happy to hear your thoughts!
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments and thoughts below!
Instead, I thought I would post a simple BTC analysis. There is a tonne of BTC analysis out there which is why I never thought there was a real need for me to post one. Some ideas use lots of indicators, some find similarities to historic movements in BTC (or even the stock market from years ago...hmm), some are pure HOPIUM but a few are useful and educational.
Here, I have nothing fancy. A simple descending channel that BTC has been trading in since the top. We can look for a breakout as it reaches the top of the channel but it is likely we will be met with strong resistance and trade downward in the channel for a little longer. Macro factors affecting the stock market and cryptocurrency are in play so we must be cautious.
Always happy to hear your thoughts!
Please note I am not a financial advisor and this is not financial advice. All ideas are for educational purposes only :)
Please feel free to leave your comments and thoughts below!