BTC DAILY: MAPPING THE SWINGS INSIDE THE CONSOLIDATION
We see a thick Kumo Cloud on the daily within the current upward trajectory. We may see a cloud rejection and perhaps a some slow, upward movement along the current low ascending trendline to bypass the cloud, and then a bullish move toward the top of the interior (violet colored) descending trend line. We may also see a more direct rebound through the daily Kumo Cloud up to--and rejection at--the interior descending trend line (violet). If we break through the interior (violet) descending trend line, we may well see an advance to the top of the symmetrical triangle at which time, I expect a highly probably rejection barring any positive fundamentals. A breakout above the symmetrical triangle would indicate a possible bullish run up to the resistances around 113 and 115.
Learn to trade like a hedge fund pro. Send me a message if you have any questions.
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.