Hi fellows, today I'm looking at BTSBTC, which seem to struggle hard and repeatedly to maintain momentum to break up beyond a crucial 50% fib level.
The ascending triangle cautions to watch for supporting trendline to break for a retrace to the 38.2% fib level.
Additionally, there is an important resistance level to consider just beyond this 50 % fib level, which can lead to a potential bulltrap in case price skyrockets and punters flood in once the 50% fib level is broken.
Disclaimer: I'm short from the 50% fib level atm.
No advice, ensure your own due dilligence.
Happy trading.
The ascending triangle cautions to watch for supporting trendline to break for a retrace to the 38.2% fib level.
Additionally, there is an important resistance level to consider just beyond this 50 % fib level, which can lead to a potential bulltrap in case price skyrockets and punters flood in once the 50% fib level is broken.
Disclaimer: I'm short from the 50% fib level atm.
No advice, ensure your own due dilligence.
Happy trading.
Comment:
Macro view of what I'm looking at below
