#BTC breakout this Descending triangle pattern!!
Updated
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#BTC Update
BTC breakout the descending triangle and retesting above it. The volume is very low in this breakout. MA50 is also acting as a resistance.
Still, the price is in a contraction phase. A move above the local resistance of $20,500 with a high volume will confirm a decent bullish rally in the market.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#BTC Update
BTC breakout the descending triangle and retesting above it. The volume is very low in this breakout. MA50 is also acting as a resistance.
Still, the price is in a contraction phase. A move above the local resistance of $20,500 with a high volume will confirm a decent bullish rally in the market.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Note
#BTC
BTC bounced after doing a successful breakout and retest of the long descending triangle. Currently, it is facing local resistance below the $20,500 level.
As BTC is trading in a range from $18,500 to $20,500 for 42days. So this is the main resistance level for bulls to break this range and a solid break above $20,500 would be the confirmation of the continuation of bullish momentum in the market.
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