XBTUSD price experienced a weak impulse after the triangle breakout.
For now, the lower triangle border may act as the major resistance line.
At the same time, the strong suport is formed at $9000.
These two lines are forming the range for the price in the foreseeable future.
In case of the range borders breakout, the following significant price targets might be indentified.
Bullish scanario: After the upper border (white line) breakout the next possible target is $9500 and $9800.
Bearish scanario: After $9000 lvl breakout the next possible target is $8700 and zone below.
Otherwise, the price may stay in the neutral range.
For now, the lower triangle border may act as the major resistance line.
At the same time, the strong suport is formed at $9000.
These two lines are forming the range for the price in the foreseeable future.
In case of the range borders breakout, the following significant price targets might be indentified.
Bullish scanario: After the upper border (white line) breakout the next possible target is $9500 and $9800.
Bearish scanario: After $9000 lvl breakout the next possible target is $8700 and zone below.
Otherwise, the price may stay in the neutral range.
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.