Tether FUD has driven BTC up, but as I can see, there’s been a HUGE rejection and the price is still inside the small and the big triangle. That said, if it broke the small triangle upwards, the resistance of the big one would be nearly impossible to break. RSI 4H is about to turn down and RSI 1D has started to turn down.
Also, if you count the waves, it was the wave E, so the triangle is completed. I think next move is down and it will break the triangle support. But, nothing is sure 100%. What is sure is that descending triangles break out downwards 73% of the times. As I can’t see volume at all, I don’t think BTC can go up this time.
I wouldn’t trade now, since Tether FUD is very dangerous. It can suddenly draw a big red candle and everyone would get trapped.
This is not financial advice. I’m not responsible of your actions.
Have a good day. ;)
Also, if you count the waves, it was the wave E, so the triangle is completed. I think next move is down and it will break the triangle support. But, nothing is sure 100%. What is sure is that descending triangles break out downwards 73% of the times. As I can’t see volume at all, I don’t think BTC can go up this time.
I wouldn’t trade now, since Tether FUD is very dangerous. It can suddenly draw a big red candle and everyone would get trapped.
This is not financial advice. I’m not responsible of your actions.
Have a good day. ;)
Anyways, I don’t know if it’s gonna be a fakeout or my resistance is not drawn 100% accurately.
Let’s see how it performs.