What is BTC doing and will it make a move soon???
BTC is trading sideways and has been trading in some sort of pattern for the last 28 days which means we can be expecting a move at some point hopefully within the next week.
As you can see BTC is struggling to overcome the resistance area at the 34 000 dollar area and is trading within the red ichimoku cloud which can be seen as neutral. Until BTC trades below this red cloud it will remain neutral in my opinion and the pattern BTC is trading in can aslo be seen as neutral.
BTC has 2 possible patterns it can be trading in, however the one requires taking wicks into consideration which is not common practice but in this case does line up pretty well. This pattern is a symmetrical triangle which is a neutral or continuation pattern, in this case it should be bullish but We would not make that decision until it breaks out of this triangle.
The other pattern We have mentioned before is a descending triangle and this pattern is bearish in theory.
I am very uncertain about BTC at the moment and will wait for the market to make a decision before we decide to trade either way.
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Disclaimer: The content covered in this channel is NOT to be considered as investment or trading advice.
I am NOT a financial adviser. These are only my own speculative opinions, ideas, theories, hypotheses and trade setup ideas on the market. The content posted in this channel is purely for entertainment purposes only and the information is NOT to be used or replicated by others.
As you can see BTC is struggling to overcome the resistance area at the 34 000 dollar area and is trading within the red ichimoku cloud which can be seen as neutral. Until BTC trades below this red cloud it will remain neutral in my opinion and the pattern BTC is trading in can aslo be seen as neutral.
BTC has 2 possible patterns it can be trading in, however the one requires taking wicks into consideration which is not common practice but in this case does line up pretty well. This pattern is a symmetrical triangle which is a neutral or continuation pattern, in this case it should be bullish but We would not make that decision until it breaks out of this triangle.
The other pattern We have mentioned before is a descending triangle and this pattern is bearish in theory.
I am very uncertain about BTC at the moment and will wait for the market to make a decision before we decide to trade either way.
-
-
-
-
-
-
-
-
Disclaimer: The content covered in this channel is NOT to be considered as investment or trading advice.
I am NOT a financial adviser. These are only my own speculative opinions, ideas, theories, hypotheses and trade setup ideas on the market. The content posted in this channel is purely for entertainment purposes only and the information is NOT to be used or replicated by others.