BTCUSD - pitchfork
Updated
Price is still trading in the same pitchfork i published several weeks ago.
We had a lower high today at 11K8.
On 4H chart, upper channel's green line of this pitchfork acted as a support. So did EMA200. Signal is now moving in this triangle (yellow and green lines).
The price will either break the yellow line and test pitchfork's upper line (12k9-ish), which is a bullish signal, or break under the green line, which is a bearish signal as prince could retest the median line of this pitchfork (9K5-ish).
As for me i'll be very careful and stay in usd for the moment being on this trade.
We had a lower high today at 11K8.
On 4H chart, upper channel's green line of this pitchfork acted as a support. So did EMA200. Signal is now moving in this triangle (yellow and green lines).
The price will either break the yellow line and test pitchfork's upper line (12k9-ish), which is a bullish signal, or break under the green line, which is a bearish signal as prince could retest the median line of this pitchfork (9K5-ish).
As for me i'll be very careful and stay in usd for the moment being on this trade.
Comment
Price broke upper channel's green line as expected, i would expect some more red and a retest to the pitchfork's median line at around 9K5 USD.
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