BTC price contracting again get ready for the move
Updated
BTCUSDT trading sideways on low volume, move is imminent. After September 24th sell-off we entered yet another descending triangle, but managed to break out of it on October 7th.Bullish scenario: breaking Symmetrical Triangle will be a good start then holding 8500 as support. If the bulls could reclaim previous sell-off 50% Fibonacci retracement level at 8925 and close with full daily candle above it 9000 mark should not be a problem. So bulls would regain all the loses after Septembers sell-off.
//No trade as of yet need to see a triangle break, if long stay long.
Bearish scenario: break-down of the Symmetrical Triangle and loosing 8000 will be good place to start some shorts as in my opinion 7700 won't hold it any more.
//Would set a short trade below 8000, if short stay short with tight stop loss.
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Trade closed: target reached
Bearish scenario came true, but the low of the move was protected. Will post a new chart after a little bit more information.
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