PIVOTAL POINT
UP OR DOWN? As we look into the PA in the last couple of days , bitcoin formed a symmetrical triangle and got rejected for the Third time at the 12k resistance. IF we were to breakout to the upside we should not break our recent lows (10.653) which would invalidate the upside bias and likely test our triangle lows and support at 11.2-11.4k maybe even the lower support at 10.8k. I am expecting one more push to the 12k resistance tonight or tomorrow( watch for a fakeout) and failure to break it ( i lean bearish) , we must see 11.4k . A break of 12.170 will take us back to 12.3k and further up to 12.6k and possibly 13k if we breakout with huge volume. Also Leverage trading is not recommended at times like this , as it is just whales playing tricks to eat SL's and Liquidations ( Just an advice). SEE YOU AT 10.8k :)
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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.