BTC CONSOLIDATION SCENARIO UPDATE (20)
Updated
Traders,
Here we have BTCUSD on 1D chart.
Previously we have harmonic pattern formation and will lead to the current price at 12k levels here below at update 18:
Now in my humble opinion we have consolidation phase by confirming three signs:
1- The first is that definable and steady support and resistance levels, much like a flag continuation pattern.
2- The second characteristic is a narrow trading range.
3- The last feature to look for is a relatively low level of trading volume that does not exhibit major spikes.
BTC have all these signs which wil lead the price to make lower low and lower high under the same trend range to the green are on the chart and will update from that level.
Regards,
Mohsen
Here we have BTCUSD on 1D chart.
Previously we have harmonic pattern formation and will lead to the current price at 12k levels here below at update 18:
Now in my humble opinion we have consolidation phase by confirming three signs:
1- The first is that definable and steady support and resistance levels, much like a flag continuation pattern.
2- The second characteristic is a narrow trading range.
3- The last feature to look for is a relatively low level of trading volume that does not exhibit major spikes.
BTC have all these signs which wil lead the price to make lower low and lower high under the same trend range to the green are on the chart and will update from that level.
Regards,
Mohsen
Trade closed: target reached
Trade closed: target reached
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Twitter: twitter.com/MoTradr
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