BTC has created a symmetrical triangle. This could go both ways, up or down. First we need to wait for a breakout before we make a trade. So be patient. Once it breaks out to a higher price point, this could really be a turning point for BTC price. Let's see....
Trade active
Solid breakout, solid volume. Note
Just a heads up for this rising wedge pattern. Indicates price drop...Note
Price pulled back to the triangle's resistance line. To understand what's happening we must zoom in more and look at the 5 min chart. It shows a falling wedge which usually means increasing price.Trade closed: stop reached
Fakeout
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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.