#BTC: Breakout this symmetrical triangle pattern!!!
Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider it as FINANCIAL ADVICE.
#BTC/USDT ANALYSIS
BTC is breaking out from the symmetrical triangle and currently retesting it. After this successful retest, we might see a good upward rally but we have $31400 to $31500 or $30700 as local resistance.
The important thing to remember here is that we have seen a false breakout many times in recent days. Every time BTC did a break out it turned out to be a fakeout. So if you open any long position then keep your stop losses tight.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome to this chart, Do not consider it as FINANCIAL ADVICE.
#BTC/USDT ANALYSIS
BTC is breaking out from the symmetrical triangle and currently retesting it. After this successful retest, we might see a good upward rally but we have $31400 to $31500 or $30700 as local resistance.
The important thing to remember here is that we have seen a false breakout many times in recent days. Every time BTC did a break out it turned out to be a fakeout. So if you open any long position then keep your stop losses tight.
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
As I already warned you in my previous BTC chart we may see some fake-out, the current situation is like this, BTC breaks the lower trend line of the triangle pattern but the candle is not closed yet so BTC needs to close the candle above the trend line in case of being bullish.
In case if not close above Channel then we have $28300 to $28500 as support.
Let's see how the daily candle closes.
Stay tuned I will keep updating