BTC Scenarios
Updated
Novice TA but sharing my thoughts.
A couple scenarios I see potentially playing out.
If we break down for support zone (A) I see a strong V shaped bounce and will be setting buy orders at the top of that zone.
However, given the RSI I see a more likely breakout from these two descending triangles in the coming days/weeks.
C shows the shorter term break out then I believe it either goes sideways (B) or continues momentum for the red larger triangle.
Looking for retests and confirmations for long positions.
A couple scenarios I see potentially playing out.
If we break down for support zone (A) I see a strong V shaped bounce and will be setting buy orders at the top of that zone.
However, given the RSI I see a more likely breakout from these two descending triangles in the coming days/weeks.
C shows the shorter term break out then I believe it either goes sideways (B) or continues momentum for the red larger triangle.
Looking for retests and confirmations for long positions.
Note
Broke out waiting for confirmation of the descending triangle line. RSI on 1-2-3 hour looks good for another entry point shortly!
** Not trading advice**
Note
Breakout failed with low volume, extending the descending triangle. Still watching for a break up or down, tentative market atm.
If BTC holds up over the weekend (30-33k) I see a move upwards to the 35-38k area.
Still prepared for another dip down if it comes.
** Not trading advice**
Note
Looks to be in line with B, expecting short term accumulation within the descending triangle. Before eventually breaking out. Personally accumulating 30-32k when the technicals look good.
** Not trading advice **
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