DCT forming possible long-term symmetrical triangle with perfect three touches on resistance and two touches on diagonal support so far.
0.786 fib level did not hold and price is currently near the weekly horizontal support 1 and diagonal support at ~6000.
Bounce from support in few days (red arrow) would confirm the triangle and price might go to resistance line 0.236 fib at ~9400, 50% profit.
In case this significant support will be invalidated (RSI not fully oversold, below EMA`s) this could send price to weekly support 2 or in the worst scenario to full retrace level support 3 (probably depends on BTCUSD action).
Interesting to watch in next few days.
For educational purposes only! Would welcome your feedback and comments. Thanks
0.786 fib level did not hold and price is currently near the weekly horizontal support 1 and diagonal support at ~6000.
Bounce from support in few days (red arrow) would confirm the triangle and price might go to resistance line 0.236 fib at ~9400, 50% profit.
In case this significant support will be invalidated (RSI not fully oversold, below EMA`s) this could send price to weekly support 2 or in the worst scenario to full retrace level support 3 (probably depends on BTCUSD action).
Interesting to watch in next few days.
For educational purposes only! Would welcome your feedback and comments. Thanks
Comment:
love horizontals, historical support reached, but does not seems like final bottom