GeeWillikers

BTC - overlayed pivots and channels - one big ranging triangle?

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
So this looks like an organised mess - because quite frankly that's what it is :see_no_evil:. But I've tried to overlay various pivot points/ channels onto the chart to get an idea of levels to watch. 'Potentially' - we've formed a big triangle (see how the pivots/ channels align in the middle), and though its far too early to say - could give us another move for a lower high somewhere below the 4k area (obviously 3800 is a very big level first - and given sentiment would take some effort to surpass the retest shorters I would have thought). Need to map out some possible routes, and watch how things develop in the next 24 hours. A lot depends on what channel is given the most significance, its quite subjective which is why I chose to overlay several and in this example the pink channel is given some 'weight' and assumes it can hold the price
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