Wait for further movementa symmetrical triangle in the BTC market suggests uncertainty about its future direction. This pattern occurs when the highs and lows of the price form converging trend lines, indicating that neither buyers nor sellers have taken control. Traders often see this as a potential continuation pattern, meaning the price could break out in either direction once the pattern is complete. It's a waiting game to see which way the market will move next.
Btcusdt-1d
#BTC update The trend is in the middle as BTC 23500 is not brokBitcoin gives a fakeout above the resistance level to hunt stop loss and liquidate high leverage positions. BTC is now trading below the resistance level which is not a good sign. Today global markets opening will decide the next move for BTC. The support and resistance levels remain the same.
ETH Analysis (1D)Ethereum doesn’t look globally good, as well. What we have is a descending triangle with the flat support which is a bearish pattern.
Moreover, there are even two strong resistances that keep $ETH from growing. Once the $1800 is broken, the massive down trend will be confirmed.
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BTCUSDTThree Determinant Limits for Bitcoin
The first and defining area was the green area that prevented further bitcoin from falling, which included the support zone and the channel floor area.
The second limit is the price range of 63,000, and if Bitcoin can break this range and stabilize above it, we can expect that Bitcoin will maintain its upward trend for at
least half a year. But if it fails to break this resistance zone, the doublet trend will decline and it will at least reach the bottom of the canal again.
The third determinant range in this range is the risk of investing in bitcoin, so if the downward trend of bitcoin is expected to fall sharply, first to the price range of 49,000 and then continue to fall to the price range of 41,000 and finally the price range of 30,000 Touch.