BitcoinShort
BTCUSD - pitchfork
Updated
Price is still trading in the same pitchfork i published several weeks ago.
We had a lower high today at 11K8.
On 4H chart, upper channel's green line of this pitchfork acted as a support. So did EMA200. Signal is now moving in this triangle (yellow and green lines).
The price will either break the yellow line and test pitchfork's upper line (12k9-ish), which is a bullish signal, or break under the green line, which is a bearish signal as prince could retest the median line of this pitchfork (9K5-ish).
As for me i'll be very careful and stay in usd for the moment being on this trade.
We had a lower high today at 11K8.
On 4H chart, upper channel's green line of this pitchfork acted as a support. So did EMA200. Signal is now moving in this triangle (yellow and green lines).
The price will either break the yellow line and test pitchfork's upper line (12k9-ish), which is a bullish signal, or break under the green line, which is a bearish signal as prince could retest the median line of this pitchfork (9K5-ish).
As for me i'll be very careful and stay in usd for the moment being on this trade.
Note
Price broke upper channel's green line as expected, i would expect some more red and a retest to the pitchfork's median line at around 9K5 USD.
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.