There has been forming a symmetrical triangle on XBTUSD (Bitmex) which normally breaks out in the direction of the trend.
Short-term trend is up, so there is a high probability that XBTUSD will breakout to 7400 USD in the next 1 or 2 days.
When it breaks down the target will be 7060 USD. Remember to keep an eye on that possibility as well.
For the highest probability of making money, wait with your long or short position until breakout is confirmed.
I will try to keep you updated as the trade develops.
Note: I am not your financial adviser... Just want you to ride along on the trades i make... NEVER use money that you need for other stuff ;)
Short-term trend is up, so there is a high probability that XBTUSD will breakout to 7400 USD in the next 1 or 2 days.
When it breaks down the target will be 7060 USD. Remember to keep an eye on that possibility as well.
For the highest probability of making money, wait with your long or short position until breakout is confirmed.
I will try to keep you updated as the trade develops.
Note: I am not your financial adviser... Just want you to ride along on the trades i make... NEVER use money that you need for other stuff ;)
Comment:
XBTUSD bounced on the upper side of the triangle... Probably 1 more wave down to 7200 and then up to 7400..
Comment:
Break-out from triangle...