Critical long term point - BTC getting sandwitched
Updated
Looking at the 1 hour graph, we can easily see BTC getting sandwiched between a supporting curve and a resistance line.
We have a typical scheme inside of those line which our Zig Zag indicator shows us very well. The result is an alternating testing of the trend lines . The distance between both gets smaller which will lead us in a final clash where the lines hit each other.
There is a possibility for the chart to break out before as well but I mark this as very low-percentaged. My arrows are very rough so don't rely on these when trading.
For now we cannot really conclude in which direction this will tend but I will keep you updated, so follow me to get notified when new indicators can show us the direction.
Good luck and happy trading to all!
We have a typical scheme inside of those line which our Zig Zag indicator shows us very well. The result is an alternating testing of the trend lines . The distance between both gets smaller which will lead us in a final clash where the lines hit each other.
There is a possibility for the chart to break out before as well but I mark this as very low-percentaged. My arrows are very rough so don't rely on these when trading.
For now we cannot really conclude in which direction this will tend but I will keep you updated, so follow me to get notified when new indicators can show us the direction.
Good luck and happy trading to all!
Trade closed: target reached
First outbreak was successful!I hope you all enjoyed nice profits and learned something new!
Happy Valentine's Day to all of you!
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