This chart uses an average price from 8 different exchanges. The bullish breakout from yesterday failed and the price fell bellow the breakout. I now expect another touch of the lower trend line around $8,700 which is also near the 200 EMA on daily chart.
Very nice and correct! I wish BTC can now start going up! Reload time!
BasedDeptGeneral
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Given the channel you have drawn, would it be odd for it to test the lower TL again without having tested the upper TL?
CryptoAddict77
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@Cryptom173, Not really. Look at the high on Dec 27. It could do the same.
krlb12345
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Hey man,
Appreciate your work!
Thoughs on my idea?
CryptoAddict77
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@krlb12345, It looks good as long as we can go back above the 11,200-11,400 level which is also the top of your cloud and current resistance. If not we are going to see more downside.
The BTC is trading now is very difficult to predict. A lot of choppiness and changing of trend on a daily basis.