Bitcoin, oh Bitcoin. Why are we waiting!
Bitcoin has been stuck in this consolidation area now for a while. it may well stay here for a few more week, but if we do get a move in either direction, one BUY nad one SELL level. the BUY level is a more risky one and not an automatic order. price might spike down to clear out the LONGS or just pause for a continuation down move. either way expect 4:1 risk reward here. Alternatively if price can break out of this pattern and move higher a 4:1 risk reward bounce at this higher level. I would expect price to get to 34K but with this level causing price to move back to the previous breakout. Well lets see if this thing can do something.
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.