WaqarMMirza

BTC Possible Fakeout

Short
KRAKEN:XBTUSD   Bitcoin / U. S. Dollar
The last two months' consolidation of BTC between 30K-40K USD. can be seen in 2 ways.

1) The Symmetrical triangle if this is the case then we have had a fakeout based on the back of Tesla news. This could be the case again as the whole of CT is anticipating the News might come On Monday from Amazon of BTC Purchase worth 1.8 Billion USD. Why the fakeout because the overall market hasn't turned bullish yet and the volume behind this weekend advance is very minimal.

2) Second way of looking at the chart is a rectangle with boundaries at 30-40K USD., if this is the case then BTC may go up to 38K where I would love to short it with a very tight invalidation.

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