The charts shows two paths for BTC. From here it can follow the either one.
RED one is distribution schematic.
GREEN one is re-accumulation schematic.
Personally I'm leaning towards distribution schematic but if I see some strength around 9100, I'll switch bullish.
Any Price weakness around 10100 will trigger shorts.
Play patiently!
according to history of volume btc has done 4000 twice with big volume . this flat movement are the sign of (12500) or the major support (6700) there goes buy nd sells
An ascending triangle is a chart pattern used in this technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. Volume tends to be stronger during trending periods than during consolidation periods. So, probably the first profit take is $11K...
btc is making a correction pattern after the long downside rally.
thus it will complete its a-b-c formation.
Also testing the resistance.
for further downside of 8200.
Here we can see golden cross of MA 50 and MA 200 and there is a trending line support in yellow.
If price closed above yellow line then BTC price will go up because Golden Cross Factor.
Morning Traders,
If you take position after price breakup trough TL2 that that was outstanding and easy position.
I have created Channel but the price did not reach upper line of the channel.
I just waited for candle to be closed. On the lower TF momentum slows down.
But we have wait until price either break trough the TL of the channel or rises higher.
And...
