BTC USD IDEA
BTC Price Action is at a very crucial level at the moment;
First the Breakout/Breakdown point of the symmetrical triangle it formed between yesterday and now.
Secondly just slightly above the Major 4HTF falling Trendline (after breakout) so price could either hold above it and pump of fall back into it and act as a fakeout.
Thirdly just above the 60k Zone currently acting as support zone.
Lastly the CME GAP I mentioned last week is yet to be filled.
Although currently Volume is low that's why I'm drawing the bearish scenario for (fakeout possiblity).
But FOMC News comes out today which could create a surge in Volume and Pump Price.
So with all this confluence I Would be bias and Favor the Bulls, I would expect price to hit the 62k zone at least.
But like I always say we'll Watch, Wait and Act accordingly as Disciplined Traders.
First the Breakout/Breakdown point of the symmetrical triangle it formed between yesterday and now.
Secondly just slightly above the Major 4HTF falling Trendline (after breakout) so price could either hold above it and pump of fall back into it and act as a fakeout.
Thirdly just above the 60k Zone currently acting as support zone.
Lastly the CME GAP I mentioned last week is yet to be filled.
Although currently Volume is low that's why I'm drawing the bearish scenario for (fakeout possiblity).
But FOMC News comes out today which could create a surge in Volume and Pump Price.
So with all this confluence I Would be bias and Favor the Bulls, I would expect price to hit the 62k zone at least.
But like I always say we'll Watch, Wait and Act accordingly as Disciplined Traders.
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