MARKET UPDATE - 15TH OCTOBER, 2024
Added 2024-10-15 15:12:06 +0000 UTCHello my friends,
Bitcoin just struck $67,500 and of course Crypto X and YouTube are exploding with excitement and moon rockets.
Please kindly open the chart attached to this post. It’s the same one we have been tracking for months. You’ll see that BTC just tagged with pinpoint precision the first crucial resistance level we spoke of during yesterday’s market update. The green diagonal line. It has rejected immediately so far and currently BTC is back at $64,900.
Neither the crucial diagonal resistance (green line) nor the $71,000 horizontal resistance (red and purple lines) have been breached. There hasn’t been a weekly close above $71,000 so far. This is the technical proof we have for the moment. No signs of bullish continuation. So far, BTC is still down trending in the massive, 6-month-long descending macro channel (yellow and green diagonal lines).
BTC is at an important level. Very close to the top of the said channel. We wait and observe. No break out has taken place for the time being.🤜🏻💚🤛🏻
Comments
Agree with the analysis no breakout as of yet. But trend does seem like it has changed. HH and HL. Nothing real until break so just an observation
JT
2024-10-15 17:31:06 +0000 UTCGreat analysis thanks Rob…
Cecilia Pfeiffer
2024-10-15 17:24:27 +0000 UTCYour perspective is grounding. Forever grateful for your calm And logical approach to this volatile market
Angelo McHorse
2024-10-15 15:56:00 +0000 UTCWe wait!!!
Masteron-blade
2024-10-15 15:55:44 +0000 UTCThere is hope!
ArcaneWealth
2024-10-15 15:49:55 +0000 UTCI was just saying this on X, it was a bull trap
Guvy
2024-10-15 15:19:32 +0000 UTCYet……
Jesse Lee Carkin
2024-10-15 15:16:04 +0000 UTC
