BTCUSD Trapped in a Descending Triangle!?
We currently trading again in a tight pattern trying to breach 10200 resistance and holding 9800 as current resistance. Descending triangles are inherently bearish unless we climb past 10200 we will slowly descend past 10000 and possibly re-test 9800, 9700 and worst case scenario back-test 9300.
On the bull end good news comes in the form of a steady ascending EMA, should candles continue closing above this average the better the chances of a rally, only set back right now is the lack of volume. Should 10200 be breached we may slowly climb past 10500 and re-test the 11000 regions.
As always, Trade Safely, Happy Trading.
A foolproof technique: This is not Financial Advice!
On the bull end good news comes in the form of a steady ascending EMA, should candles continue closing above this average the better the chances of a rally, only set back right now is the lack of volume. Should 10200 be breached we may slowly climb past 10500 and re-test the 11000 regions.
As always, Trade Safely, Happy Trading.
A foolproof technique: This is not Financial Advice!
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