BTC descending triangle
Updated
Hello everyone, this is my first time posting an idea.
I'm in no ways an expert, just a day trader looking to learn.
With that out of the way, I notice BTC has made several failed attempts to breach the 48k resistance and trade volumes are decreasing. There is strong support at 46k so I can see some ranging between these two for the next couple of days. I expect retail buyers to get tired and the pair to drop to at least 42k, where there is strong support and volumes can start picking up again.
Again, this is my first idea and Im just throwing it out there to see what people think, in order to improve my skills.
Please do not take this as advice.
I'm in no ways an expert, just a day trader looking to learn.
With that out of the way, I notice BTC has made several failed attempts to breach the 48k resistance and trade volumes are decreasing. There is strong support at 46k so I can see some ranging between these two for the next couple of days. I expect retail buyers to get tired and the pair to drop to at least 42k, where there is strong support and volumes can start picking up again.
Again, this is my first idea and Im just throwing it out there to see what people think, in order to improve my skills.
Please do not take this as advice.
Order cancelled
Im still bearish but the pattern did not play out.
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.