BTC breakout imminent
Still neutral, no trading zone with low volume.
As posted many times already by others.
Approaching the end of triangle.
Its structure is favouring bears a little but we could breakout to the upside if we don’t turn lower now.
If we fail here or at the pink downward resistance we’re likely headed sub 10K the support of the ascending turquoise trendline would meet us at around 9.5-9-6K, We also have a strong 20-week moving average that usually holds bull markets at 9600. If we take out lows from this week and break through the 20-week MA we’re likely gonna test our last horizontal support at 9100.
In case 9.1K breaks we’re in trouble. Next support would probably be a 200-day moving average, sub 8K.
As posted many times already by others.
Approaching the end of triangle.
Its structure is favouring bears a little but we could breakout to the upside if we don’t turn lower now.
If we fail here or at the pink downward resistance we’re likely headed sub 10K the support of the ascending turquoise trendline would meet us at around 9.5-9-6K, We also have a strong 20-week moving average that usually holds bull markets at 9600. If we take out lows from this week and break through the 20-week MA we’re likely gonna test our last horizontal support at 9100.
In case 9.1K breaks we’re in trouble. Next support would probably be a 200-day moving average, sub 8K.
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