Over the last few days we've seen a slight recovery of BTC. Be aware that we're not out of the woods yet, since the overall trend is still dominantly bearish.
However, the Pitchfork indicator offers an interesting perspective. The line between the current all-time high and the previous one has the same angle as the line which connects the two bottoms. This means that the price has followed a perfect channel, and, according to the Pitchfork indicator, it's very likely that the bottom is in.
Target for the coming months would be the middle line, and eventually the top of the channel. I've overlaid the July-Oct move to give you an idea about a potential time frame.
Happy trading!
However, the Pitchfork indicator offers an interesting perspective. The line between the current all-time high and the previous one has the same angle as the line which connects the two bottoms. This means that the price has followed a perfect channel, and, according to the Pitchfork indicator, it's very likely that the bottom is in.
Target for the coming months would be the middle line, and eventually the top of the channel. I've overlaid the July-Oct move to give you an idea about a potential time frame.
Happy trading!
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๐Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
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๐ฅPremium Signals: www.fierytrading.com
