$BTC - Channel analysis
- Can clearly see BTC within a downward channel on 4hr here
- After a move upwards (blue arrow), this pattern typically indicates a bullflag
- HOWEVER, the volume on the move up that proceeds this channel was very weak when compared to that of the dump(s) before it
- This makes me very skeptical of the likelihood that this will play out as a bullflag
- If it does break upwards, I don't see it pushing us above 4400 or so before a rejection
- I think we are getting close to the bottom overall, but this won't be the catalyst for a significant pump
- Can clearly see BTC within a downward channel on 4hr here
- After a move upwards (blue arrow), this pattern typically indicates a bullflag
- HOWEVER, the volume on the move up that proceeds this channel was very weak when compared to that of the dump(s) before it
- This makes me very skeptical of the likelihood that this will play out as a bullflag
- If it does break upwards, I don't see it pushing us above 4400 or so before a rejection
- I think we are getting close to the bottom overall, but this won't be the catalyst for a significant pump