BTS - The hard slog
Updated
Hi fellows, today I'm looking at BTSBTC, which seem to struggle hard and repeatedly to maintain momentum to break up beyond a crucial 50% fib level.
The ascending triangle cautions to watch for supporting trendline to break for a retrace to the 38.2% fib level.
Additionally, there is an important resistance level to consider just beyond this 50 % fib level, which can lead to a potential bulltrap in case price skyrockets and punters flood in once the 50% fib level is broken.
Disclaimer: I'm short from the 50% fib level atm.
No advice, ensure your own due dilligence.
Happy trading.
The ascending triangle cautions to watch for supporting trendline to break for a retrace to the 38.2% fib level.
Additionally, there is an important resistance level to consider just beyond this 50 % fib level, which can lead to a potential bulltrap in case price skyrockets and punters flood in once the 50% fib level is broken.
Disclaimer: I'm short from the 50% fib level atm.
No advice, ensure your own due dilligence.
Happy trading.
Note
Macro view of what I'm looking at below
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.