BTC: continuation pattern via simmetrical triangle?
BTC has reached a new short-term low of $60,775 after correcting from $73,777. This low was suggested by the trading volume given by the FRVP, as cited in previous analysis. The FRVP support at approximately $67,200 continues to be important, and bullish behavior is expected if the price remains above it. The recent highs and lows suggest price compression via a symmetrical triangle. Breaking the resistance level of this triangle — currently around $70,750 — could easily propel the price to a new all-time high.
Trade active
BTC has broken resistance.
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.
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.