BTCUSD 4H chart
Updated
After being in an ascending triangle for a while now, price breached the lower triangle band, effectively negating the bullish outlook on the 4h chart.
Green line represents potential stop points and a plan for how a trend might continue.
Red line represents where are next stops if a downward pressure continues.
For now, I will stay out of the trade since we do not have a clear signal on where a price might go. Long term I am still extremely bullish, but a serious correction is taking place at this moment.
Trade safely!
****Don't forget to take into account some on-chain analysis (currently great accumulation of BTC is happening).
Green line represents potential stop points and a plan for how a trend might continue.
Red line represents where are next stops if a downward pressure continues.
For now, I will stay out of the trade since we do not have a clear signal on where a price might go. Long term I am still extremely bullish, but a serious correction is taking place at this moment.
Trade safely!
****Don't forget to take into account some on-chain analysis (currently great accumulation of BTC is happening).
Note
*Symetrical triangle not ascending one.Ascending triangle could be seen in the ETH USD pair, which also broke on the downside, but is currently not at price levels that would signal strong indecisivness.
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