We are approaching local resistance line and there's a potencial for a slight correction in case of clear false breakout.
This is potential trade if price action confirms what is drawn.
If there's a continued sign of strength after breakout (i.e. not a false breakout) it is likely that BTC will continue to rise, and this fact invalidates short idea.
Trade short only in case of obvious breakout, some weakness in further move up and then clear and powerful move down through same resistance line (this actually constitutes false breakout)
This is potential trade if price action confirms what is drawn.
If there's a continued sign of strength after breakout (i.e. not a false breakout) it is likely that BTC will continue to rise, and this fact invalidates short idea.
Trade short only in case of obvious breakout, some weakness in further move up and then clear and powerful move down through same resistance line (this actually constitutes false breakout)
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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.