A clear uptrend pattern on BTC but risk remains high
BTC has been breaking all key levels and it's on its way back to the 20k price reached last year, we must remember though that it is still extremely risky to trade it. On the chart you can see how a pennant pattern has formed on BTC, I have been seeing this pattern a lot on cryptos. By measuring the drop, we are able to place out target price which stands at 15.000.
The TP is placed and the SL stands around the highly traded price (12.400).
ps. The indicator below is the Relative Volatility Index, it shows us how much volatility does a certain product have, quite similar to the ATR
The TP is placed and the SL stands around the highly traded price (12.400).
ps. The indicator below is the Relative Volatility Index, it shows us how much volatility does a certain product have, quite similar to the ATR
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