This is bitcoin's 2 hour chart.
A symmetrical triangle is being formed which indicates a break above or down soon.
However, you can see there is 50 day and 100 day EMA standing on top as heavy resistance. Plus the declining volume.
There is also lack of confidence in the market. I must say that there are 60% chances of a break down.
Still it is very diffculyt to say anything right now so use stop losses and take profits optimally.
Happy investing!
A symmetrical triangle is being formed which indicates a break above or down soon.
However, you can see there is 50 day and 100 day EMA standing on top as heavy resistance. Plus the declining volume.
There is also lack of confidence in the market. I must say that there are 60% chances of a break down.
Still it is very diffculyt to say anything right now so use stop losses and take profits optimally.
Happy investing!
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