BTCUSD is forming a descending triangle now.
And BTCUSD is trying to breakout its resistance now.
If it would success to breakout the pattern, it could goes higher(at around ATH). If not it would fall down to 6K or so.
BTCUSD is also forming a symmetrical triangle at 4H.
And this small symmetrical triangle will be done by 11 Aug.
When this symmetrical triangle success to breakout its resistance and start a new journey to upper zone means that BTCUSD is on its bullish track again.
If not, we need to wait to confirm the completion of the descending triangle pattern.
Fib circles shows that BTCUSD is supported by its 1.618 now.
But, I'm not sure that BTCUSD could go higher or not at this time.
Anyway BTCUSD is supported by 1 line of its long-term Fib channel.
RSI shows hidden bullish divergence. These are good signals for bulls.
Anyway take your own risk & get some money.
Good luck
And BTCUSD is trying to breakout its resistance now.
If it would success to breakout the pattern, it could goes higher(at around ATH). If not it would fall down to 6K or so.
BTCUSD is also forming a symmetrical triangle at 4H.
And this small symmetrical triangle will be done by 11 Aug.
When this symmetrical triangle success to breakout its resistance and start a new journey to upper zone means that BTCUSD is on its bullish track again.
If not, we need to wait to confirm the completion of the descending triangle pattern.
Fib circles shows that BTCUSD is supported by its 1.618 now.
But, I'm not sure that BTCUSD could go higher or not at this time.
Anyway BTCUSD is supported by 1 line of its long-term Fib channel.
RSI shows hidden bullish divergence. These are good signals for bulls.
Anyway take your own risk & get some money.
Good luck
Comment:
I think MM tries to show that they are willing to make the 3rd bull run.
Someone tell us that this small dump might be a bear trap. yup. it could be.
As I told you before, when the symmetirical triangle fails to breakout its resistance, we need to wait for the confirmation of the descending triangle.
Do not panic. Do your study & do something after that.
Anyway, I drew my upward channel already and it shows that the bottom for the next season has not come yet.
I'm just watching it & waiting its arrival to my position.
Take your own risk & get some money.