#BTCUPDATE - 1.6.21
We are at the business end of the deal now - coming to a close of the consolidation triangle now with BTC.
Right now trying to guess the direction of BTC is a fools game - play to the direction of the break, we should be seeing this play out in the next 2-3 days. Over the coming days I would expect some sort of massive FOMO or FUD news to drop to drive the direction (possibly).
Simply trade accordingly - a break up (approx. $36.5k with daily close)) then extremely conservative long targets of $40k & $42k before strong retrace.
A break down (approx. $34.7k with a daily close) will quite conservatively see a push to $31.3k and then almost inevitably to $30k where there will likely be a strong bounce/bull trap.
There is a possible 3rd scenario that we have seen in previous corrections followed by breakdowns in these consolidation triangles which dumps hard then start a consistent rise to ATH's.
We are at the business end of the deal now - coming to a close of the consolidation triangle now with BTC.
Right now trying to guess the direction of BTC is a fools game - play to the direction of the break, we should be seeing this play out in the next 2-3 days. Over the coming days I would expect some sort of massive FOMO or FUD news to drop to drive the direction (possibly).
Simply trade accordingly - a break up (approx. $36.5k with daily close)) then extremely conservative long targets of $40k & $42k before strong retrace.
A break down (approx. $34.7k with a daily close) will quite conservatively see a push to $31.3k and then almost inevitably to $30k where there will likely be a strong bounce/bull trap.
There is a possible 3rd scenario that we have seen in previous corrections followed by breakdowns in these consolidation triangles which dumps hard then start a consistent rise to ATH's.
