BitcoinUpdated BTCUSD Triangle Formation
This is a triangle chart formation, we are waiting for it to either consolidate within the triangle before it can breakout. We expect it to either break out at the resistance level for us to place a buy order or for it to break out at the bottom trendline which formed due to higher lows for us to place a sell order but for now we can place a buy with a TP at the resistance level since the price failed to break out of the trendline and it reversed
Note
Went up as predicted, now we are waiting to see if it breaks the resistance for a swing buy order or it fails to break for a scalp sell order then further observe behavior within the triangle
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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.