Bitcoin: Breakout from Triangle Will Show Direction, down to 29k
Updated
As we can see on 1day chart BTC if forming a very nice symmetrical triangle. Altho, RSI is seeking support at the moment, we have a bearish crossover on MACD which could be a sell signal.
So where next? If BTC breaks the triangle to the down, we are for sure moving to 29k where we should test MA50. if it breaks above, we will test a new ATH.
Disclaimer:
- this is not any kind of trading advice
- I am a noob, this is for my learning and training purposes
Comments are appreciated.
So where next? If BTC breaks the triangle to the down, we are for sure moving to 29k where we should test MA50. if it breaks above, we will test a new ATH.
Disclaimer:
- this is not any kind of trading advice
- I am a noob, this is for my learning and training purposes
Comments are appreciated.
Note
BTC broke the triangle down, and reached 30k. At 30k there is for now support, but I am expecting to move forward to 28-27kNote
There is strong support at 31-32 which is also first level of fib retracment, and we can see it was quite close to test MA50 but we are still waiting to touch it
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