BitcoinShort
BTC to 9000 or 7800?
Longer term dynamic S/R over the last week
Shorter descending symmetrical triangle
Possible breakdown of triangle @ 8600. Bitcoin is about to test the bottom support of the descending triangle @ 8600. If that fails, and we break out of the descending triangle , the closest S/R area is @ 7800. On the other hand, if we the support holds and we rebound, we should test upper bound of the triangle ~9000.
Watch next two candles (morning May 4) to see if breakdown occurs or rebound.
Rebound --> long to 9000
Breakdown --> short to ~7800
Shorter descending symmetrical triangle
Possible breakdown of triangle @ 8600. Bitcoin is about to test the bottom support of the descending triangle @ 8600. If that fails, and we break out of the descending triangle , the closest S/R area is @ 7800. On the other hand, if we the support holds and we rebound, we should test upper bound of the triangle ~9000.
Watch next two candles (morning May 4) to see if breakdown occurs or rebound.
Rebound --> long to 9000
Breakdown --> short to ~7800
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