BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The price goes into descending channel , and the target of the broken triangle is pointing to a critical area, mixed signals.
Now there are more than one scenario:
1- The BTC rebounded from the new short trend in blue and the 61% Fibonacci (Monthly). (Weak Potential)
2- The BTC rebounded from the old trend from 15/9 and achieved the target of the broken triangle. (Medium Potential)
3- The BTC rebounded from the oldest trend from 16/7 and test the 50 MA on Weekly and the Center line of the descending channel . (Strong Potential)
Mar 29
Comment: The first scenario failed quickly.
So, the third scenario is the best option.
Mar 29
Trade active: The target of the triangle reached, Scenario 2 Active.
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