Critical BTCUSD 7250 point will determine Bear or Sideways
BTC is coming up to a very critical point in determining if we stay in the bear market or move on to sideways market.
Descending triangle is very clear and has touch support and trend line multiple times.
Descending triangle is one of the most reliable patterns in TA.
If it is to break out of this pattern it has to be on this mini bull run.
The major indicator in the next few days will be volume of the entire BTC market.
The last 3 days has averaged ~4.3 B USD.
If we see this number go above ~5.5 B USD, we should see a break out above the descending triangle which will put us into a sideways market.
50/50
Good luck.
Descending triangle is very clear and has touch support and trend line multiple times.
Descending triangle is one of the most reliable patterns in TA.
If it is to break out of this pattern it has to be on this mini bull run.
The major indicator in the next few days will be volume of the entire BTC market.
The last 3 days has averaged ~4.3 B USD.
If we see this number go above ~5.5 B USD, we should see a break out above the descending triangle which will put us into a sideways market.
50/50
Good luck.
Comment:
If we don't see heavy push today 9.3.18 Monday, it will be a continuation of the bear market. Setup your stop limits.
70/30 bear right now.
70/30 bear right now.
Comment:
Wow, that was right on the money. Sucks tho, wanted at least a recovery to sideways.
High volume holding the 7250 point, it should be a good sign for Monday. If volume does not pick up, be cautious Monday.