Big wedge, channel down, Triangle in channel. BTC Chart

[thegoatiest]

https://www.tradingview.com/x/2qiiC45R/


Looks like down to me ?

[hd49728]

If you use the 4H chart, you will see BTC is trying to break out. Three times so far to break $60k (from $58k to $59k).

If you use the 1D or 1W chart, you will see BTC probably is overbought but it still is on its uptrend.

I don't think BTC uptrend will be break. If there will be any deep falls, they will be corrections and BTC will rally and climb to get new all time highs. BTC will have new all time high, I believe, but I don't know how deep its corrections will be.

[thegoatiest]

I don't mean the bull is over.
But If it rejects from that triangle, then I suspect a retest of the middle minimum of that channel. Maybe the bottom around 44500,

[decodx]

I don't mean the bull is over.
But If it rejects from that triangle, then I suspect a retest of the middle minimum of that channel. Maybe the bottom around 44500,

The $58000 resistance was perfectly rejected by Bitcoin, but we cannot talk about a big correction down the road as long as we stay above the $54700 support.
However, It's always risky to enter long positions when the 1-hour chart shows a bearish trend.

[death69]

Nice chart, btw

It might fall down for a little bit before making any significant move. Nobody wants to sell bitcoin or their cryptocurrencies, just look at how crowded the trading volume. Many new altcoins have made new ATH. Eventually, bitcoin will soon break the resistance. The current trend is still upward, I believe so.

[thegoatiest]

Thankyou!
Worked out pretty good.  Unfortunatley I have yet to master my emotions in order to trade so I didn't make money off this move.
Alts are holding. BTC.D still low.

I think upwards too, but it may go down to the 40k / target of the wedge still - where I would be buying more for sure.

https://www.tradingview.com/x/Gn6Vvm6K/

[Obito]

Yeah no shit it is a down, what do we do  it's the way the markey moved, buy now because this will be a good time to accumulate at lower prices, it might the golden opportunity that a lot of people were talking about, also don't worry about it because the prices are going to go back up and it will probably bounce back higher.

[thegoatiest]

I pointed out yesterday that it was likely going down.  I figured it would, that's why I shared my chart before it did.
Yeah, Buy more!! is the plan. : )