BTC Update
BTC is forming a symmetric triangle and respecting the support and resistance lines. The triangle is tightening up, we may see another test of the $39,500-$39,800 area. Bulls need to break this triangle in an upward direction and hold above it. So far market is absorbing all the FUDs and holding the $35,000 support level. A downward breakout of this triangle will get us back to $30,000-$31,500 levels. No need to panic here, just enjoy the weekend.
BTC is forming a symmetric triangle and respecting the support and resistance lines. The triangle is tightening up, we may see another test of the $39,500-$39,800 area. Bulls need to break this triangle in an upward direction and hold above it. So far market is absorbing all the FUDs and holding the $35,000 support level. A downward breakout of this triangle will get us back to $30,000-$31,500 levels. No need to panic here, just enjoy the weekend.
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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.