BTC/USD 1h chart
BTC/USD 1h chart
After a nice surge of BTC price, we've found a relaxing place between historical resistance at 48.700$ and support at 46.700$.
If we take a closer look at lower time frames as 1h, we can see that we're about to form a diamond pattern, which has a bit higher percentage rate of reversing the price. If that plays out we can place a short position as 1st trade scenario is showing.
In case that price doesn't retrace there, we can consider placing a long position as 2nd trade scenario shows.
If we come above 50k, we can expect some fireworks.
@Altcoin_and_bitcoin_trading
After a nice surge of BTC price, we've found a relaxing place between historical resistance at 48.700$ and support at 46.700$.
If we take a closer look at lower time frames as 1h, we can see that we're about to form a diamond pattern, which has a bit higher percentage rate of reversing the price. If that plays out we can place a short position as 1st trade scenario is showing.
In case that price doesn't retrace there, we can consider placing a long position as 2nd trade scenario shows.
If we come above 50k, we can expect some fireworks.
@Altcoin_and_bitcoin_trading
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