Bitcoin near buy area - RR ratio 4 - how to make money
market price is within descending triangle and still in correction movement after last months strong breakout. Many people expected up trend continuation but the market sentiment is to pesimistic currently. BTC need a optimistic market sentiment or some new FOMO news for further up movement.
The descending triangle pattern after such a strong breakout is usually followed by another breakout. The breakout target in case of a breakout is near 11K, we will update this idea in case of such a bullish breakout.
Indicator analysis
-regular RSI is heavy over selled - expect buyers coming into the market slowly
-bollinger bands getting tighter which indicates incoming consolidation movement
-100 day moving average (blue line) crossed the 200 day moving average (red line) which is bearish indicator
We will update this idea in our VIP channel / contact us for further information.
The descending triangle pattern after such a strong breakout is usually followed by another breakout. The breakout target in case of a breakout is near 11K, we will update this idea in case of such a bullish breakout.
Indicator analysis
-regular RSI is heavy over selled - expect buyers coming into the market slowly
-bollinger bands getting tighter which indicates incoming consolidation movement
-100 day moving average (blue line) crossed the 200 day moving average (red line) which is bearish indicator
We will update this idea in our VIP channel / contact us for further information.
Order cancelled:
Market broke the support area without consolidation
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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