Outlook BTC
Previously BTC had managed to breakout from fib levels of 0.618 and 2.618, but the breakout was not accompanied by large volumes, so BTC again broke down and closed below fib levels of 0.618-2.618 (false breakout). I think the previous increase in BTC was because on tf 4h BTC made a double bottom pattern (bullish pattern), and when BTC managed to break out of its neckline and reach the target of the double bottom there was a selling action that made BTC corrected quite deeply. However, the 44k-42.5 support area became an area of strong demand, it can be seen from the BTC candle that made a long wick after touching the area.
And for the current outlook for BTC, BTC has break down a support area at 47k-46.3k and now BTC is trying to breakout again that support area that has become resistance, in 1 hour tf BTC forms an ascending triangle pattern. Wait and see is the right choice for now, just waiting to see if BTC will breakout up or breakdown.
And for the current outlook for BTC, BTC has break down a support area at 47k-46.3k and now BTC is trying to breakout again that support area that has become resistance, in 1 hour tf BTC forms an ascending triangle pattern. Wait and see is the right choice for now, just waiting to see if BTC will breakout up or breakdown.
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