Bitcoin (BTC) lost support at $13.4k and fell into its long-term trend channel (Figure 1), but has yet to breakout of it's downward trend (Figure 2).
What to expect?
Bitcoin's RSI is low and the MACD has yet to signal a trend reversal. I expect the price to continue navigating through the long-term channel and continue to follow the downtrend until it reaches the support of the long-term channel.
Recommended Guidelines to Follow:
- Wait for the Break Out
- Open your position by following the trend
- Set your target limits
** Always set your stop losses when long
I wish you MASSIVE profits on all your trades,
What do you think will happen?
If you find this post helpful consider buying me a Beer:
BTC - 3AQP9LMjY8SNSZ6nfpsn67nVQe3db8tg3K
ETH - 0xc486b894321d3520D40f257B7fDbf904b25aBD65
LTC - MTbXPRKTcuMLdN6czDeEXzdSus7MnbponG
XVG - DKBHQX5zxQPizLym9Y2uWzfmQVJ1fVt6wM
Disclaimer: Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
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