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Chibuike_Odoh
Jan 16, 2021 9:23 AM

BTCUSDT - Potential sell entry 🔽 Short

Bitcoin / TetherUSBinance

Description

BTCUSDT is consolidating in a symmetrical triangle pattern.
Price got rejected off the symmetrical triangle's inclined resistance and brokedown below the ascending trendline support.
Price is testing the fibonacci retracement levels and we could see a downtrend continuation to the symmetrical triangle's inclined support.
The pullback is supported by an ascending trendline.
Sell entry ⬇️ - breakdown below the ascending trendline support.
Targets 🎯 - previous swing low, symmetrical triangle's inclined support.
Setup invalidation ❌ - breakout above the descending trendline resistance.
Comments
importantCode12562
good
Chibuike_Odoh
Shegslove
Nice analysis mate
Chibuike_Odoh
obiscosys
Why are weekends so bad for BTC?
Chibuike_Odoh
@obiscosys Well not really. The biggest price swings just tends to happen on weekends
TRADESBYZION
Totally agree mate
Chibuike_Odoh
@TRADESBYZION let's watch and see👍
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