IN 1 HR CHART BTC IS IN DESCENDING TRIANGLE FOR NEXT FEW HRS
Hi guys:
Today a new descending triangle is made by the btc moves in 1 hr chart this movement within the triangle can take upto 12 to 24 hrs in the meanwhile btc will be moving sideways this time period can be good for day traders. The movement is neutral but if we see the day pennant (as I have shown in my btc pennant in previous idea) then 7000 to 7100 target is confirmed.
Regards,
Atif Akbar
Today a new descending triangle is made by the btc moves in 1 hr chart this movement within the triangle can take upto 12 to 24 hrs in the meanwhile btc will be moving sideways this time period can be good for day traders. The movement is neutral but if we see the day pennant (as I have shown in my btc pennant in previous idea) then 7000 to 7100 target is confirmed.
Regards,
Atif Akbar
Trade active:
Hi guys the descending triangle's support is broken if the price will stay below 6650 after fib retracement then there will be strong pull back at 1 hr chart can lead to 6100
Trade closed manually:
Now BTC has broken the breakdown support of descending triangle now it will continue down to day chart's pennant support which is 6000 to 6100