BitcoinUpdated BTC short-termto $8k or $9k? Symmetrical Triangle
BTC has formed a symmetrical triangle on the 4 hour chart. If we break this and downtrend, we will test the lower trend line at 8k.
However, the lower line of the triangle seems to be holding. If this holds, we should see a bounce back to 9k.
However, the lower line of the triangle seems to be holding. If this holds, we should see a bounce back to 9k.
Trade closed: target reached
The symmetrical triangle was broken and BTC tested the lower trend line at 8k as predicted. MACD looking bearish. If the lower trend line is broken, then next support is at $7736. With the indication that we see, there is a high possibility that this can happen.
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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.