Blue is the Primary channel
Grey/red is the secondary channel
Green is next level up
Below red means run away
I kept this easy for everyone. If it hits the wall of the channel which I think it will tonight it should bounce higher the SMA, MCAD, and RSI are all looking good for a decent leg up. if BTC rides the channel (blue) and breaks above the green then hold on to your hats because it will go flying and fast. If Bit cannot break the green line it will drop down to the red line secondary channel bottom, which does not mean it's going to go to zero but prob 5400 until it catches its footing. then it will ride the 2ndary channel to meet the green resistance again, again if it can break (next week) then cash in the bank, if not then it's going to hurt all of our wallets but a great dip-buying opportunity.
It's a simple analysis but it lays out all the goods, BTC is helping us see the path to the bank.
Buy smart, I am not a financial advisor.
Grey/red is the secondary channel
Green is next level up
Below red means run away
I kept this easy for everyone. If it hits the wall of the channel which I think it will tonight it should bounce higher the SMA, MCAD, and RSI are all looking good for a decent leg up. if BTC rides the channel (blue) and breaks above the green then hold on to your hats because it will go flying and fast. If Bit cannot break the green line it will drop down to the red line secondary channel bottom, which does not mean it's going to go to zero but prob 5400 until it catches its footing. then it will ride the 2ndary channel to meet the green resistance again, again if it can break (next week) then cash in the bank, if not then it's going to hurt all of our wallets but a great dip-buying opportunity.
It's a simple analysis but it lays out all the goods, BTC is helping us see the path to the bank.
Buy smart, I am not a financial advisor.
Comment:
54000* not 5400