Hello, everyone!
The ascending triangle have been broken to the downside, but it can be the manipulation. Now the BTC is approaching to the decisive point. The price can choose one of the two following scenarios.
1)The fake out scenario. We can see that the price found the strong support at the weekly cental pivot. But the $39100 is still the strongest resistance level because of supply zone and monthly central pivot there. This scenario assume that the price did a fake out to the downside from ascending triangle and is going to break through the $39100 to reach my long trade target.
2)The break and retest scenario. It’s considered that the price is going to retest the resistance level before the new dump.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
The ascending triangle have been broken to the downside, but it can be the manipulation. Now the BTC is approaching to the decisive point. The price can choose one of the two following scenarios.
1)The fake out scenario. We can see that the price found the strong support at the weekly cental pivot. But the $39100 is still the strongest resistance level because of supply zone and monthly central pivot there. This scenario assume that the price did a fake out to the downside from ascending triangle and is going to break through the $39100 to reach my long trade target.
2)The break and retest scenario. It’s considered that the price is going to retest the resistance level before the new dump.
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions at the real market.
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