BTC/USD Update, Next target could be 2900 and then 1100...
Update from previous video
I am seeing a symmetrical triangle on 1h time frame if this pattern breaks down, the mpo will take us to the next daily support area of around 2900. If this area does not hold we are are looking at around 1100. There is nothing to suggest we have bottomed as of current. Because of how oversold we are it is possible that we break this pattern to the upside but I believe the bearish scenario is more likely.
Happy Trading :)
The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Therefore, before you decide to buy any product or keep or cancel a similar product that you already hold, it is important that you read and consider the relevant Product Disclosure Statement (PDS) of the product provider to make sure that the product is appropriate for you. Before making any decision, it is important for you to consider these matters and to seek appropriate legal, tax, and other professional advice.
I am seeing a symmetrical triangle on 1h time frame if this pattern breaks down, the mpo will take us to the next daily support area of around 2900. If this area does not hold we are are looking at around 1100. There is nothing to suggest we have bottomed as of current. Because of how oversold we are it is possible that we break this pattern to the upside but I believe the bearish scenario is more likely.
Happy Trading :)
The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs. Therefore, before you decide to buy any product or keep or cancel a similar product that you already hold, it is important that you read and consider the relevant Product Disclosure Statement (PDS) of the product provider to make sure that the product is appropriate for you. Before making any decision, it is important for you to consider these matters and to seek appropriate legal, tax, and other professional advice.
