After a pullback to the descending trendline of the symmetrical triangle, we can either:
1. Expect a continuation of the uptrend:
Open a long position after breaking the $73,200 resistance level.
Target the $80,000 level.
2. Consider the possibility of a false breakout:
The bulls might be accumulating liquidity before a move down.
Enter a short position in the $69,240 zone (high-risk).
Target the first support level at $66,500.
Target the second support level at $63,800 if the ascending trendline breaks.
Important factors to consider:
Market sentiment and news
Volume and price action
Support and resistance levels
Overall market conditions
Disclaimer: This is not financial advice. Always do your own research and analysis before making any trading decisions.
1. Expect a continuation of the uptrend:
Open a long position after breaking the $73,200 resistance level.
Target the $80,000 level.
2. Consider the possibility of a false breakout:
The bulls might be accumulating liquidity before a move down.
Enter a short position in the $69,240 zone (high-risk).
Target the first support level at $66,500.
Target the second support level at $63,800 if the ascending trendline breaks.
Important factors to consider:
Market sentiment and news
Volume and price action
Support and resistance levels
Overall market conditions
Disclaimer: This is not financial advice. Always do your own research and analysis before making any trading decisions.
