Trust measurement on bitcoin, The price is very close to APEX
Hey all, How are you today? I hope you are doing great. today, I want to do analysis on bitcoin. here is my thought :
1. I see Bitcoin is forming a triangle and it shows us the uncertain area.
2. The price is moving closely to the APEX.
3. Everytime I see a triangle, What I am going to do is a trust measurement to determine the next potential support and resistance area.
If BTC break up the resistance trend line than the next resistance area is around $6800 and if it break down the support trend line, the next support will be around $5800. just want to remind you again that whenever the price is moving inside the triangle, it means the price is in uncertain area and it is not very wise for us to open positions. we just have to wait for the confirmation
- open short positions with the target around $5800 area when BTC break down the support trend line or
- open long positions with the target around $6800 area when BTC break up the resistance trend line.
Thank you all for your attention and please remember this post is for educational purposes only, this is not buy or sell signal. I hope you are doing great all.
1. I see Bitcoin is forming a triangle and it shows us the uncertain area.
2. The price is moving closely to the APEX.
3. Everytime I see a triangle, What I am going to do is a trust measurement to determine the next potential support and resistance area.
If BTC break up the resistance trend line than the next resistance area is around $6800 and if it break down the support trend line, the next support will be around $5800. just want to remind you again that whenever the price is moving inside the triangle, it means the price is in uncertain area and it is not very wise for us to open positions. we just have to wait for the confirmation
- open short positions with the target around $5800 area when BTC break down the support trend line or
- open long positions with the target around $6800 area when BTC break up the resistance trend line.
Thank you all for your attention and please remember this post is for educational purposes only, this is not buy or sell signal. I hope you are doing great all.