BTCUSD price is stuck between the 200 Day MA at $8,311 and the 200 Day EMA: $8,768. Waiting for a close above 200 Day EMA ($8.8K) or below 200 Day MA ($8.2K) to open a long/short position. Daily RSI oversold, CMF has turned bearish, MACD looks tragic. Waiting for the next breakout or fakeout, likely downwards.
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Trading idea: Another Descending Triangle On 1hr Chart
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Price now forming a symmetrical triangle, for now.Note
Now formed a symmetrical triangle, here's the analysis:
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Starting to look more like a bear flag already:
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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.