BTC SYMMETRICAL TRIANGLE

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Bitcoin is forming a symmetrical triangle that will help us understand what is the next move for the market. We have two scenarios ahead of us:

1- We break from the downside, we will go back to 30k, then 28k if we break below 30k. Then we could easily continue our dump to 25k. Our last target is 20k, but based on price action we will tell you what are our most likely exits.

2- We break from the upside, we would go to 42k, then 44k-45k, and if we break above this resistance, we will see a continuation to 49k-50k

We are currently waiting patiently for a break either from up or down. Personally I think we will break from below, this pattern usually breaks to the downside.


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What do you think?

Good luck traders,

Not financial advice
Manage risk and leverage
DYOR

NajjarTrading

交易結束：目標達成:

We want to break above 37.3k for a continuation to the upside

評論:

Bitcoin is still in the symmetrical triangle, as predicted we will stay between those two trend line until we break either to the upside or the downside with confirmation:
1- We break above; we go to 40k, 42k then 44k-45k. Possible reversal at those levels. If we break above 45k we go to 49k-50k
2- We break from below, our targets are 33k, 30k then 28k. We could go lower even to 25k based on price action.

Support: 35k
Resistance: 37.3k