BTC: Tentative Break of the Symmetrical Triangle
Updated
BTC has marginally closed below the symmetrical triangle support on the 30min chart, which may signal the continuation of the sell-off to 38k
Note that the green lines are fib extension levels that coincide with previous support/resistance and may create a bumpy ride. If the 100% fib extension support at 38k is broken, the next support is the 1.618 fib extension at approximately 32k, which coincides with the trend line channel support that extends from the December 2020 high to the June 2021 low.
Note that the green lines are fib extension levels that coincide with previous support/resistance and may create a bumpy ride. If the 100% fib extension support at 38k is broken, the next support is the 1.618 fib extension at approximately 32k, which coincides with the trend line channel support that extends from the December 2020 high to the June 2021 low.
Trade closed: target reached
Target amended to 45k
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.