BitcoinTradingClub

BitcoinTradingClub

A possible symmetrical triangle pattern (bullish/bearish) that could break up or down! Wait for a breakout + confirmations. Bitcoin Trading Club is created to share valuable trading ideas, charts and to support each other with our trades (NFA).

BitcoinTradingClub

Bitcoin formed a symmetrical triangle which is a continuation pattern so it should break out to the upside. But those patterns can break also to the opposite side. That's why we are anticipating a bearish scenario too. Not financial advice

BitcoinTradingClub

If bitcoin manages to break the resistance and flip 11200-11250 into support I expect 11700-11800 incoming. This target would also close the CME Gap at 11795.

BitcoinTradingClub

If bitcoin manages to break the resistance and flip 11250 into support I expect 11850 incoming. This target would also close the CME Gap at 11795. But if it fails and breaks the red trendline which acts as support I expect a dump to 10600-10400 levels. This is not financial advice