Looking at drawing channels, I think you do have to draw the big downtrend line through the Mar/ Apr daily highs.
Look at the weekly (below) to see why that is actually more accurate
So what does that mean?
The last 2 days were significant because we have broke BTC last decending trendline from 69K. Yes we can still go lower, (as most trendbreaks will want a new extreme), but as of now, we're no longer in this massive trend down.
I think we'll see two legs in this correction rally, then test the lows around Nov/Dec.
🤙🏽
Look at the weekly (below) to see why that is actually more accurate
So what does that mean?
The last 2 days were significant because we have broke BTC last decending trendline from 69K. Yes we can still go lower, (as most trendbreaks will want a new extreme), but as of now, we're no longer in this massive trend down.
I think we'll see two legs in this correction rally, then test the lows around Nov/Dec.
🤙🏽
Look at the weekly candles, specifically the red doji. That to me is precisely where the trendline is crossing.