BitcoinLong
BTC:USD Imminent; Parabola set to test resistance 60:40 Bullish
BTC is in a tightening pattern, with declining volume and the daily RSI in a descending channel all indicating we could be in for a break sooner then the general market thinks. Look for a test of the downward sloping (red) triangle line in the upcoming days. Second confirmation of a bullish break out will be a close above c.11k, with a target of c.14k (double top)
If it breaks down we have the upwards sloping triangle trend (green) and 21 EMA (weekly) just below it acting as support.
If it breaks down we have the upwards sloping triangle trend (green) and 21 EMA (weekly) just below it acting as support.
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.