Hey Traders,
An update on my view of the current situation for bitcoin.
We are setting up for a double bottom if we cannot hold onto these key supports, we need to be able to break the descending trend line and hold . The decline in volume on the Squeeze is setting up for a big move ahead of us. MAC D is also declining on the hourly .
Please be safe tonight and set stops!
Thank you.
An update on my view of the current situation for bitcoin.
We are setting up for a double bottom if we cannot hold onto these key supports, we need to be able to break the descending trend line and hold . The decline in volume on the Squeeze is setting up for a big move ahead of us. MAC D is also declining on the hourly .
Please be safe tonight and set stops!
Thank you.
Kommentar:
UPDATE: we have broken out of the downtrend and will continue to see some upside for a while. This is most likely because of the Binance problem clearing up. I have bought back in for now. Happy trading!