Hello,
$BTC is currently trading around $36600 range and is a consolidation phase. Lots of backorders must have been placed in this range for both the sides.
- If symmetrical Triangle breaks to the upside with strong volume behind it, then we may find three targets around $42000, $47000, and $54000
- If it break downward, then there is not much support on the down side. It may face support at $30000, but once it breaks that level then we may see targets around $20000 and $16000
$BTC is currently trading around $36600 range and is a consolidation phase. Lots of backorders must have been placed in this range for both the sides.
- If symmetrical Triangle breaks to the upside with strong volume behind it, then we may find three targets around $42000, $47000, and $54000
- If it break downward, then there is not much support on the down side. It may face support at $30000, but once it breaks that level then we may see targets around $20000 and $16000
Comment:
As discussed earlier, expect some bounce from here and then it will decide the direction....stay tuned
