BTC about to break out from a MASSIVE symetrical triangle !
Most people thought that
BTCUSD
broke out from its symetrical traingle on april 12th.
But the volume was way to low. This is what we call a Fake break out.
BTCUSD
is still in the triangle and currently at the apex.
Get ready for some major moves ( if the volume increases).
First Target would be 10k USD, quickly followed by 11.5k. Long term target is 22k
BUT
If
BTCUSD
Doesn't break out today or tomorrow, we'll most likely go down to 7000 support an retest 7800 in the next days. This might actually be very healthy to reset the daily RSI and give us more fuel.
I don't see btc -0.11% breaking down this triangle as most News look good, a few major countries give some positive signs about cryptos. (China, France, South Korea, Japan).
but if this happens we could go as low as 5000 usd
Please like and share.
This is only my point of view and certainly not a finnancial advice. You are trading at your own risks.
Your Devoted Tont's
BTCUSD
broke out from its symetrical traingle on april 12th. But the volume was way to low. This is what we call a Fake break out.
BTCUSD
is still in the triangle and currently at the apex. Get ready for some major moves ( if the volume increases).
First Target would be 10k USD, quickly followed by 11.5k. Long term target is 22k
BUT
If
BTCUSD
Doesn't break out today or tomorrow, we'll most likely go down to 7000 support an retest 7800 in the next days. This might actually be very healthy to reset the daily RSI and give us more fuel. I don't see btc -0.11% breaking down this triangle as most News look good, a few major countries give some positive signs about cryptos. (China, France, South Korea, Japan).
but if this happens we could go as low as 5000 usd
Please like and share.
This is only my point of view and certainly not a finnancial advice. You are trading at your own risks.
Your Devoted Tont's
Trade active:
We might have broke up but the volume is way too low so the break out can't be comfirmed yet. But if the resistance acts now like a support it's a very good news, let's wait and see.