On February 12, BTCUSD crossed the brown dashed trendline and it seems that the major downtrend ended. However, the new trend is not an uptrend, but a sideways movement. The price of Bitcoin is fluctuating around Pivot Point.
An outbreak of this sideways movement can establish either a new uptrend or a continuation of the downtrend above the brown dashed trendline.
Pivot Point is 8592. Below Pivot Point, there is a bearish scenario, above a bullish one. Fluctuating around Pivot Point means an undecided scenario and a sideways movement.
An outbreak of this sideways movement can establish either a new uptrend or a continuation of the downtrend above the brown dashed trendline.
Pivot Point is 8592. Below Pivot Point, there is a bearish scenario, above a bullish one. Fluctuating around Pivot Point means an undecided scenario and a sideways movement.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.