Bitcoin / TetherUSShort
BTCUSDT - Bearish Descending Triangle
Noticed that price action is tracing a bearish DESCENDING TRIANGLE, having an 18.0K to 19.0K shaded support area.
18.0K to 19.0K support area can be based from Nov to Dec 2020 previous price action.
Based from “Technical Analyis ONLY”, price action might trace down to the next minor supports of $17.0 K, $16.2 K or worst, to major support of 12.0K
Use Dollar Cost Averaging when buying.
1. If price action breaks the support area, Good to buy at around 17.0K, $16.2 K and 12.0K
2. If price action breaks the resistance and form a retest, safe to buy at around $25.0 K, same as at around $32.3 K.
18.0K to 19.0K support area can be based from Nov to Dec 2020 previous price action.
Based from “Technical Analyis ONLY”, price action might trace down to the next minor supports of $17.0 K, $16.2 K or worst, to major support of 12.0K
Use Dollar Cost Averaging when buying.
1. If price action breaks the support area, Good to buy at around 17.0K, $16.2 K and 12.0K
2. If price action breaks the resistance and form a retest, safe to buy at around $25.0 K, same as at around $32.3 K.
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.
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.