The bears are in full charge!
BTC has been in an ascending triangle for the past few days and is about to break down to the downside.
According to TD-Indicator rules you can enter a short trade when a red 2 starts trading below a red 1. As you can see in the chart, this condition will most likely be met today (Maybe even while I am typing this)
The TD-Entry is below the ascending triangle which is a great confirmation for the short play.
Interestingly enough the target based on traditional rules of the ascending triangle hits the 50MA + another support/resistence line based on the price action from the past 6 weeks.
Good luck trading
BTC has been in an ascending triangle for the past few days and is about to break down to the downside.
According to TD-Indicator rules you can enter a short trade when a red 2 starts trading below a red 1. As you can see in the chart, this condition will most likely be met today (Maybe even while I am typing this)
The TD-Entry is below the ascending triangle which is a great confirmation for the short play.
Interestingly enough the target based on traditional rules of the ascending triangle hits the 50MA + another support/resistence line based on the price action from the past 6 weeks.
Good luck trading
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