Simply put, the box is the time frame where this all happens. Max is June but doubt it will take that long. Likely MUCH sooner.
So, what's analysis?
Either Bitcoin holds the purple intermediate trend or it caves to one of the light blue lines.
Scenario A
If we break down, don't think 35k holds, likely looking to fill the gap that is around 33k, or major support around 30k
Scenario B
If we break up, which is more work, we're looking at gong to the blue line which puts it , again, around 45k ish.
We then face the dilemma again at major resistance. Bitcoin would need to break resistance with VOLUME because if it doesn't then we probably hit top part of purple channel and start all over again.
Happy trades!
So, what's analysis?
Either Bitcoin holds the purple intermediate trend or it caves to one of the light blue lines.
Scenario A
If we break down, don't think 35k holds, likely looking to fill the gap that is around 33k, or major support around 30k
Scenario B
If we break up, which is more work, we're looking at gong to the blue line which puts it , again, around 45k ish.
We then face the dilemma again at major resistance. Bitcoin would need to break resistance with VOLUME because if it doesn't then we probably hit top part of purple channel and start all over again.
Happy trades!