BITCOIN.
As the correction phase is extending in the cryptocurrencies, there remains a likely scenario with a triangle formation. This would mean that the price could consolidate in the coming months. Triangle formations are always followed by an impulse - so the market will continue higher but the chances of the breakthrough remain slim in the short term. However, a long-term investment remains an attractive opportunity as long as the price remains above the previous low of 28600.
Always manage risk while trading.
As the correction phase is extending in the cryptocurrencies, there remains a likely scenario with a triangle formation. This would mean that the price could consolidate in the coming months. Triangle formations are always followed by an impulse - so the market will continue higher but the chances of the breakthrough remain slim in the short term. However, a long-term investment remains an attractive opportunity as long as the price remains above the previous low of 28600.
Always manage risk while trading.
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.
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.