BitcoinUpdated BTC topping out
We have BTC trading in a fairly defined channel currently but aslo if we look on the 1 hr chart, we can see a flag building, more importantly, it can be defined as an ascending wedge pattern,
it will likely break down, towards the bottom of the channel at around 10200 - 10300 before find support there.
This is the most likely scenario but its a game of probabilities and we coud see a trend continuation up towards 11k, this is the chances we take when dealing with short- term trades, I would suggest waiting for confirmation of breakout if shorting but with such a small amount of movement before next support, it is up to you to decide if it is worth waiting or taking a risk.
Good Luck all
PX We are siiting tight against the upper line currently, keep watch!
it will likely break down, towards the bottom of the channel at around 10200 - 10300 before find support there.
This is the most likely scenario but its a game of probabilities and we coud see a trend continuation up towards 11k, this is the chances we take when dealing with short- term trades, I would suggest waiting for confirmation of breakout if shorting but with such a small amount of movement before next support, it is up to you to decide if it is worth waiting or taking a risk.
Good Luck all
PX We are siiting tight against the upper line currently, keep watch!
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