According to the triangle , BTC is pressuring from the top line while supporting by the bottom line. And price is squeezing inside this triangle.
Also a five-wave trend seems to end soon. But this five-wave trend does not make a new high or new low, its getting lower high and higher low.
The signal here is still bear. Therefore, the position of 5 could still happen on the bottom blue support line.
And we have a purple support zone here where BTC could reach 5800 again. This is a target we have on several ideas. But still no one get its final target hit yet. So the plans here are for two different directions. Buy BTCUSD again when bull signal appear on 6100 position round. Or sell it now down to see if 5800 could be reached later.
Here's my BTC analysis. I discuss 50/100DMA holding us down | Don't fomo just yet | Fractals | Weekly/Monthly don't like bullish:
weslad
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BTC may take off at anytime soon as the accumulation is getting narrow.
TheAlphaTrades
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I've been in the markets for 11 years and trust me when I say this that there has never been a better wealth generating opportunity like the crypto markets BUT knowing how to trade it will be pivotal for your success. In today's afternoon BTC analysis I discuss 50/100DMA holding us down | Don't fomo just yet | Fractals | Weekly/Monthly don't like bullish: