BTC is into a triangle now. I'm seeing 3 ways of BTC.
No 1: breakout the triangle upward and reach to 40K
No 2: breakout the triangle downward (Fake breakout) and take bounce from S1(around 30K) and reach to 35-40K
No 3: Go more down making a H&S pattern. But for this it needs to break S1 (around 30K). Below this level BTC makes a H&S pattern. Not above this level.If it makes a H&S pattern the next support is S2 which is around 24K.
Ultimately BTC is now in an Important zone. Below 30K BTC is bearish. Above 37K BTC is Bullish. Now BTC is in its decision zone. Either it will be bullish or bearish.
No 1: breakout the triangle upward and reach to 40K
No 2: breakout the triangle downward (Fake breakout) and take bounce from S1(around 30K) and reach to 35-40K
No 3: Go more down making a H&S pattern. But for this it needs to break S1 (around 30K). Below this level BTC makes a H&S pattern. Not above this level.If it makes a H&S pattern the next support is S2 which is around 24K.
Ultimately BTC is now in an Important zone. Below 30K BTC is bearish. Above 37K BTC is Bullish. Now BTC is in its decision zone. Either it will be bullish or bearish.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.