BTC Finaly has reached the top resistance of the Symmetrical Triangle created from yesterday's rally up. The 4H is Overbought with Divergences showing on the Hourly + lower time frames. As previously stated before, the StochRSI for the daily looks like it needs to hit the bottom before we fully launch up for our next rally to 11K, with that being said it looks like we can come down to the Symmetrical Triangle's support one last time before breaking upwards in a big rally.
Symmetrical Triangles can be very profitable if you trade the support and resistance properly before the breakout. Yesterday there were mixed signs in the market, especially with whales counter-trading patterns. Should this continue, we could see an early attempted break of the resistance, so be prepared.
Symmetrical Triangles can be very profitable if you trade the support and resistance properly before the breakout. Yesterday there were mixed signs in the market, especially with whales counter-trading patterns. Should this continue, we could see an early attempted break of the resistance, so be prepared.
Note
Whales counter-traded TA.
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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.