Today I am reviewing the 1D (daily) chart for Bitcoin (BTC) on a linear scale.
In the chart I noted:
1) The price is shown inside a parallel channel since March 12, 2020 when the RSI hit a major low.
2) Recently a double top formed with the breakdown today. The estimated target is around $47-48K. That is about a 16%-18% drop from current prices.
3) RSI may have a chance to get into the oversold area on the daily where it may be exciting to pick up a long.
This is one of many ideas I have put out on Bitcoin. Check out others below.
What are your opinions on this? I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
In the chart I noted:
1) The price is shown inside a parallel channel since March 12, 2020 when the RSI hit a major low.
2) Recently a double top formed with the breakdown today. The estimated target is around $47-48K. That is about a 16%-18% drop from current prices.
3) RSI may have a chance to get into the oversold area on the daily where it may be exciting to pick up a long.
This is one of many ideas I have put out on Bitcoin. Check out others below.
What are your opinions on this? I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
I chart on Tradingview: www.tradingview.com/symbols/BTCUSD/?aff_id=25106
I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd
I hold crypto on Ledger Hardware: shop.ledger.com/?r=9f683f228f19
I find value in the data from LuxAlgo:
www.luxalgo.com/pricing?rfsn=6252565.5f61bd
