XBT/USD Breakout Compression idea
Just go on the 1 hour time frame on my chart and read what I wrote.
Long story short, we have 3 potential scenarios..
1. We break up now + idea that supports this is Green daily candle, + We literally scraping the top of this which is likely to go up while here, as long as buy pressure stays,
2. Compression is continued due to formation of triangle from angled resistance till we breakout, if we fall then -> 3.
3. we fall down a notch, and its continued to a even longer fate... and then potential breakout from that up or down.
Long story short, we have 3 potential scenarios..
1. We break up now + idea that supports this is Green daily candle, + We literally scraping the top of this which is likely to go up while here, as long as buy pressure stays,
2. Compression is continued due to formation of triangle from angled resistance till we breakout, if we fall then -> 3.
3. we fall down a notch, and its continued to a even longer fate... and then potential breakout from that up or down.
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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.