#BTCUPDATE - 4.OCT.21 FAKEOUT & RETURN TO CONSOLIDATION
#BTCUPDATE - 4.OCT.21
FAKEOUT & RETURN TO CONSOLIDATION
A strong rejection at 49.2k brought the price directly back into the continued consolidation triangle and now back to awaiting which direction is going to be confirmed.
Unfortunately an unfilled weekly pivot has a appeared that usually has a high chance of being filled - so it can be looking like a bearish break out at this stage. Some more positive news from the US government would certainly help sway things but right now not looking great.
A break up of 48.5k will almost certainly take us to 50k and a break down of 47k can realistically take us to 45k.
I would not be trading until confirmation of direction.
FAKEOUT & RETURN TO CONSOLIDATION
A strong rejection at 49.2k brought the price directly back into the continued consolidation triangle and now back to awaiting which direction is going to be confirmed.
Unfortunately an unfilled weekly pivot has a appeared that usually has a high chance of being filled - so it can be looking like a bearish break out at this stage. Some more positive news from the US government would certainly help sway things but right now not looking great.
A break up of 48.5k will almost certainly take us to 50k and a break down of 47k can realistically take us to 45k.
I would not be trading until confirmation of direction.
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