💎₿TC: Respected Symmetrical Triangle, BUT....
Hello Dear Traders,
In Last Post:
I discussed about Rising wedge pattern on hourly time frame and it perfectly worked as expected. Price came at 33k zone and it respected demand zone of 4hr and also respected very important lower support trendline of symmetrical triangle. after touching lower trendline we seen very good buying pressure. if we close above this lower trendline on daily time frame then we may see 37000$ soon. things which are concerning to me is btc is bearish on weekly timeframe and it looks like symmetrical triangle may break downside. weekly timeframe will definitely impact on current week and next week. this level is very important for bulls, if btc breaks down from here then we will definitely see btc trading near 25000$.
BTC Dominance is also dropping very fast, this thing is also very concerning. for ALTS, BTC drop and decrease in dominance will boost alts rally.
right now it looks like we found demand zone, will update the chart after daily candle closing.
In Last Post:
I discussed about Rising wedge pattern on hourly time frame and it perfectly worked as expected. Price came at 33k zone and it respected demand zone of 4hr and also respected very important lower support trendline of symmetrical triangle. after touching lower trendline we seen very good buying pressure. if we close above this lower trendline on daily time frame then we may see 37000$ soon. things which are concerning to me is btc is bearish on weekly timeframe and it looks like symmetrical triangle may break downside. weekly timeframe will definitely impact on current week and next week. this level is very important for bulls, if btc breaks down from here then we will definitely see btc trading near 25000$.
BTC Dominance is also dropping very fast, this thing is also very concerning. for ALTS, BTC drop and decrease in dominance will boost alts rally.
right now it looks like we found demand zone, will update the chart after daily candle closing.
Trade closed: stop reached:
Symmetrical Triangle broke Downside
