Indeed, BTCUSD consolidated for a long tiem to form a triangle top, which has been broken out with a sharp plunge.
Where BTCUSD will go after the triangle broke out?
Firstly, from the traditional method, it can be measured by the triangle's height, because the target is the same height as the triangle's, which is near 4700.
Secondly, in the weekly chart, a very good demand zone is at 4780-5780, which is a support as well.
Above all, the target of this drop would be at 4700-5780.
It is good to sell until the target reaches.
If the price enters the PRZ, 4700-5780, then it is high time to buy after bullish signals appear.
Let's wait and see where the price move!
Where BTCUSD will go after the triangle broke out?
Firstly, from the traditional method, it can be measured by the triangle's height, because the target is the same height as the triangle's, which is near 4700.
Secondly, in the weekly chart, a very good demand zone is at 4780-5780, which is a support as well.
Above all, the target of this drop would be at 4700-5780.
It is good to sell until the target reaches.
If the price enters the PRZ, 4700-5780, then it is high time to buy after bullish signals appear.
Let's wait and see where the price move!
