Novice TA but sharing my thoughts.
A couple scenarios I see potentially playing out.
If we break down for support zone (A) I see a strong V shaped bounce and will be setting buy orders at the top of that zone.
However, given the RSI I see a more likely breakout from these two descending triangles in the coming days/weeks.
C shows the shorter term break out then I believe it either goes sideways (B) or continues momentum for the red larger triangle.
Looking for retests and confirmations for long positions.
A couple scenarios I see potentially playing out.
If we break down for support zone (A) I see a strong V shaped bounce and will be setting buy orders at the top of that zone.
However, given the RSI I see a more likely breakout from these two descending triangles in the coming days/weeks.
C shows the shorter term break out then I believe it either goes sideways (B) or continues momentum for the red larger triangle.
Looking for retests and confirmations for long positions.
Comment:
Breakout failed with low volume, extending the descending triangle.
Still watching for a break up or down, tentative market atm.
If BTC holds up over the weekend (30-33k) I see a move upwards to the 35-38k area.
Still prepared for another dip down if it comes.
** Not trading advice**
Still watching for a break up or down, tentative market atm.
If BTC holds up over the weekend (30-33k) I see a move upwards to the 35-38k area.
Still prepared for another dip down if it comes.
** Not trading advice**
Comment:
Looks to be in line with B, expecting short term accumulation within the descending triangle. Before eventually breaking out.
Personally accumulating 30-32k when the technicals look good.
** Not trading advice **
Personally accumulating 30-32k when the technicals look good.
** Not trading advice **
RSI on 1-2-3 hour looks good for another entry point shortly!
** Not trading advice**