WAIT FOR THE SUPPORT LINE, WE ARE GOING TO 68500 RANGE!
GO LONG WHEN TOUCHING THE LARGE SUPPORT LINE TOUCHED 3 TIMES, EXPECTING TO BOUNCE BUT ALWAYS WAITING FOR VOLUME FOLLOWING THE BOUNCE.
AS YOU CAN SEE VOLUME HAS BEEN DECREASING SINCE THE DOWNTREND WHICH IS TELLING US BEARS ARE LOSING STEAM, SO IT IS MORE LIKELY TO BOUNCE OFF THE SUPPORT AND TRY TO BREAK THE TRIANGLE FORMATION, IF NOT IT WOULD BE A BAD SIGN AS BULLS WOULD BE REJECTED AGAIN WHICH IS LESS LIKELY TO HAPPEN.
THE LEVELS WHERE WE SHOULD BE GOING LONG OR LOADING BAGS ARE IN THE RANGE OF 6850.
HAPPY TRADING GUYS!
BTCUSD
AS YOU CAN SEE VOLUME HAS BEEN DECREASING SINCE THE DOWNTREND WHICH IS TELLING US BEARS ARE LOSING STEAM, SO IT IS MORE LIKELY TO BOUNCE OFF THE SUPPORT AND TRY TO BREAK THE TRIANGLE FORMATION, IF NOT IT WOULD BE A BAD SIGN AS BULLS WOULD BE REJECTED AGAIN WHICH IS LESS LIKELY TO HAPPEN.
THE LEVELS WHERE WE SHOULD BE GOING LONG OR LOADING BAGS ARE IN THE RANGE OF 6850.
HAPPY TRADING GUYS!
BTCUSD
Comment:
As you can see everything is going as planned, now we have a big confirmation due to a simetrical triangle formation which indicates a continuation of the downtrend and never a reversal which will lead us to our target of 6850 range.