BITCOIN indecisive movement coming to an end!
Updated
The price formed a triangle pattern, showing that not the bulls neither the bears are in control. The trend will be identified when the price breaks out of the triangle.
Long: The price retesting the bottom trend line of the triangle and then breaking out to around $11140 levels. There if the bears don't show any resistance we are heading up to 12000 which will be a tough barrier to break.
Short: The price falling from the triangle would mean that we will get to the 10000 levels that serve as psychological support.
We can see that the RSI is in a slight uptrend idicating on a long position but I would suggest waiting for the candle confirmation on either way from the triangle. Look for great alts in the meantime.
Trade with your own risk
#TradesBySheriff
Long: The price retesting the bottom trend line of the triangle and then breaking out to around $11140 levels. There if the bears don't show any resistance we are heading up to 12000 which will be a tough barrier to break.
Short: The price falling from the triangle would mean that we will get to the 10000 levels that serve as psychological support.
We can see that the RSI is in a slight uptrend idicating on a long position but I would suggest waiting for the candle confirmation on either way from the triangle. Look for great alts in the meantime.
Trade with your own risk
#TradesBySheriff
Trade active
Breakout! The bulls are in control.
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.