The price of 
XBTUSD its being forming the volatility contraction pattern (VCP) while above the 50 day moving average, good sign. The price has been trying to breakout above 62k, if that happens I think I´ll add to my position in $OTC:GBTC, which is also forming the same pattern. The bad thing is that the last 3 trading days the price closed below the high level. Its not a great deal but still, not the kind of thing you want to see before a rally.
IfXBTUSD doesn´t breaks out the 62k zone soon it could drop, the support areas are 50k and 42k. For me if the price drops below the 50 day moving average I´ll just take profits and wait for better conditions.
XBTUSD its being forming the volatility contraction pattern (VCP) while above the 50 day moving average, good sign. The price has been trying to breakout above 62k, if that happens I think I´ll add to my position in $OTC:GBTC, which is also forming the same pattern. The bad thing is that the last 3 trading days the price closed below the high level. Its not a great deal but still, not the kind of thing you want to see before a rally.If
XBTUSD doesn´t breaks out the 62k zone soon it could drop, the support areas are 50k and 42k. For me if the price drops below the 50 day moving average I´ll just take profits and wait for better conditions.
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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.