Just an update on my previous graph.
I hope no one got caught in the dead cat bounce.
It seems the target for the base of the triangle is still in play, around the 5.7k region.
There is also a trend line at the bottom which could be a target.
If the trend line is hit first that could signal the bottom is hit and ignore the 5.7 target.
However they could both fall ...
Finally a bit of good news with BTC, we had a breakout of a long falling pattern and rumours of new futures contracts betting long, so if there is any potential manipulation behind the scenes maybe it can work in our favour!
Im excited to buy back in today all be it cautiously, some EU regulations maybe on the horizon which could push us back below the long ...
Some bouncing between 2 inner channels expected, i want to see signifcant break out above the hard upper channel before i will buy back in to any crypto atm. again i am novice so dont take this too seriously
A lot of people looking at historical btc data but not sure if we can trust it as there was such a large media storm over btc at the end of 2017, before that ...
i think we need to see btc break the down trend and get over about 13.2 or it may get stuck into a downward current who knows to where! (i am new to technical analysis so dont take this information to seriously!)