BTC next big move is coming!
Updated
- An ascending triangle is forming, which is usually a continuation pattern means it will drop further down after breaking out of this pattern. Price target is between 46000~47400 which could happen in the next few hours.
- It is clear that the volume is going down, so we can expect a next big move, I believe it would be a downward movement, rest nothing is certain.
For a bigger picture, please refer to my idea Bearish Target for BTCUSD, link has been provided below in related ideas section.
Thanks for reading! Your comments will be appreciated!
Note
Price is consolidating, if I change the trend line it is still forming an ascending triangle. So, the triangle has been extended, seems it will be a downward breakout. Let us wait and watch if breaks down or up.Note
The big move was a downward movement but it got supported by .5 level forming strong support and bounced back up.Note
There is a bearish divergence on 15 min & 1 hour time-frame, which indicates price could consolidate for next few hours or go down before bouncing back up again to reach next target.Trade closed manually
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