SkyRockSignals

BTCUSDT returned to the triangle due to low volume

POLONIEX:BTCUSDT   Bitcoin / Tether USD
A huge volume growth moved the price till the upper edge of the Triangle. Then the price broke through it and passed 0.618 Fib resistance line however then volume reduced significantly and the price went down breaking the ascending channel down. As we can see there are 2 options now. The price can go to the upper edge from the current point as Stoch RSI is very oversold or it can go to the next support level of Fib 0.786 and bounce from there. All trade again are super risky as BTC is preparing for the next bull run.
評論: The price accurately followed our analysis and it is at the upper edge of the triangle again. We have a Bull's flag formation which was formed after the similar pattern yesterday. Today's Bull's flag can be broken and rising wedge can be formed in this case we will have a significant price drop of BTC. However almost all technical indicators show a buy status. Moreover bulls have still enough power and volume is rising, hence another Bull's flag formation can be finished and the price will broke upward the triangle.
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