Indecision
Morning folks,
Market obviously stands indecision. Fundamental background remains bad but technical liquidity support from the Fed and pre-election rally distorts the picture. This lets BTC stands on the surface but at the same time it has not inner power to accelerate higher.
Currently, we do not see any good trading setups, but on longer term charts we keep our bearish view and suggest that downside breakout of daily consolidation in just a question of time. Here, on 1H chart we have triangle consolidation with potential fake upward breakout. The Friday's rally is mostly erased, so, let's keep watching. For intraday trading you could try to catch "222" patterns inside the consolidation on 4H chart. Now we do not have any. Still we think that bears have more chances to succeed...
Market obviously stands indecision. Fundamental background remains bad but technical liquidity support from the Fed and pre-election rally distorts the picture. This lets BTC stands on the surface but at the same time it has not inner power to accelerate higher.
Currently, we do not see any good trading setups, but on longer term charts we keep our bearish view and suggest that downside breakout of daily consolidation in just a question of time. Here, on 1H chart we have triangle consolidation with potential fake upward breakout. The Friday's rally is mostly erased, so, let's keep watching. For intraday trading you could try to catch "222" patterns inside the consolidation on 4H chart. Now we do not have any. Still we think that bears have more chances to succeed...
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.