Looking at the price action we are currently in a symmetrical triangle on the upside if price breaks the symmetrical triangle around $38500 will be looking at price action heading towards the region of the neckline of the head and shoulder (resistance level). The bears are starting to lose steam.
MArket will however become more bearish if price action break below the psychological support line of 30,000$.
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MArket will however become more bearish if price action break below the psychological support line of 30,000$.
Please leave a like, comment and support my idea, by following my account to get more info.
Trade active:
Resistance @$38500 breached, price action heading upwards towards $42759
Comment:
I'm also of the opinion that the bearish trend isn't fully accomplished, Symmetrical triangles possess lots of divergences on price-oscillator values. $42k might act as not only resistance but start of fresh bearish trend.
Trade active:
Looking more bearish. Wave 5 incoming.
Looking more bearish. Wave 5 incoming.
Comment:
Fortunately Due to break in descending trendline, BTC is looking more bullish on 4H, target levels identified by the Fib levels.