As expected, Bitcoin is completing the hypothetical triangle pattern and preparing for the next drop.
In the past few days, with the closing of the markets and Bank Holiday yesterday in America, retail buyers, who are mainly day traders in my opinion, were able to increase the price by a few percent with a very small volume, but due to the small volume of transactions and the turbulent upward trend that has formed, it is more likely that It will be the exit from the bottom of the triangle, but at the beginning of the London market today, we have seen the drop in demand in the market and the strengthening of the dollar index (DXY), which is likely to increase with the opening of the American market in the afternoon, because it is still a fundamental economic factor. It was not created for the growth of the market and only the situation of such data has improved compared to the past.
The condition for changing the trend is the formation of a reversal pattern in the price and breaking and stabilizing the price above the 21500 area.
In general, I think that wherever you see a long signal, you should short it
In the past few days, with the closing of the markets and Bank Holiday yesterday in America, retail buyers, who are mainly day traders in my opinion, were able to increase the price by a few percent with a very small volume, but due to the small volume of transactions and the turbulent upward trend that has formed, it is more likely that It will be the exit from the bottom of the triangle, but at the beginning of the London market today, we have seen the drop in demand in the market and the strengthening of the dollar index (DXY), which is likely to increase with the opening of the American market in the afternoon, because it is still a fundamental economic factor. It was not created for the growth of the market and only the situation of such data has improved compared to the past.
The condition for changing the trend is the formation of a reversal pattern in the price and breaking and stabilizing the price above the 21500 area.
In general, I think that wherever you see a long signal, you should short it
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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.
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.