Weekly Chart #BTCUSD Rectangle Target
Hello Traders,
A rectangle is a chart pattern formed when the price is bounded by parallel support and resistance levels, exhibits a period of consolidation or indecision between buyers and sellers as they take turns throwing punches but neither has dominated.
The price will “test” the support and resistance levels several times before eventually breaking out. From there, the price could trend in the direction of the breakout, whether it is to the upside or downside.
Will BTC breakout to the downside? It is possible, it is something to think and prepare.
Thanks,
A rectangle is a chart pattern formed when the price is bounded by parallel support and resistance levels, exhibits a period of consolidation or indecision between buyers and sellers as they take turns throwing punches but neither has dominated.
The price will “test” the support and resistance levels several times before eventually breaking out. From there, the price could trend in the direction of the breakout, whether it is to the upside or downside.
Will BTC breakout to the downside? It is possible, it is something to think and prepare.
Thanks,
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