$BTC ULTIMATE Level Approaching (Targets to Watch!) $XLM $ETH
Not much to update here, would just like to throw up a chart with my highly sophisticated new trend lines. The long term trendline for this past parabolic advance continues to hold although by traditional technical analysis standards each times it is hit by price action it could weaken.
Is that what's happening here? Perhaps, although if that were the case I would expect volume to the upside subside and volume on selling bars to increase and we haven't seen a decisive move in that regard.
Indicators do say we're leaning bearish, traditional candle patterns are signaling short trades across many time frames but in my opinion there's not a real long term short trade to make until BTC closes below the long term trend line in dramatic fashion on a 4 hour close.
Just quick update here, stay safe and as always this is not financial advice.
Is that what's happening here? Perhaps, although if that were the case I would expect volume to the upside subside and volume on selling bars to increase and we haven't seen a decisive move in that regard.
Indicators do say we're leaning bearish, traditional candle patterns are signaling short trades across many time frames but in my opinion there's not a real long term short trade to make until BTC closes below the long term trend line in dramatic fashion on a 4 hour close.
Just quick update here, stay safe and as always this is not financial advice.