#BTC
Don't be alarmed by the many arrows, they simply serve to clarify my points. I've created a
bullish corrective channel, which means:
• While moving within the channel, funds are
redistributed.
• When
resistance is broken, the trend
continues.
• When
support is broken, the trend
reverses.
The top left arrow indicates that the trend can be confirmed without approaching to the channel's support.
The bottom left arrow indicates that if we see an early decline in price, breaking below the
±$23k could be enough to reverse the uptrend.
The rest arrows should be self-explanatory.
Should the price
fix below $22.3k, I'll search for a
bearish pattern, such as a Head and Shoulders, and take a
short position. However, if there is a
rejection from the descending
support, a confirmed
breakout through the descending
resistance, or a successful
retest of it, I will instead take a
long position.
https://twitter.com/Temple_Crypto/status/1627243208202719232?t=deKwRubGL1pRFqeALA5amg&s=19
