BTC Long-Term Trend Channel
Bitcoin (BTC) lost support at $11.4k and fell into its long-term trend channel (Figure 1), but has yet to breakout of it's downward trend.
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,
