Quick update :
BTC is in a descending triangle
If we break to the upside with volume support, 1st target is 48.5k
If we break 48.5k it would represent a market structure change and show strength, at this moment we can we be looking back for the high of this range (52k), with the only major resistance being 50k
If we break the triangle to the downside, we have the fib golden pocket right below us, which if we break, we can expect a quick move to the downside as we don't have much support below it.
Our major level of support would be around 39.5k, we also have a daily level at 40.7k
Any questions?
Good luck traders
Remember not to break your rules
Habib
BTC is in a descending triangle
If we break to the upside with volume support, 1st target is 48.5k
If we break 48.5k it would represent a market structure change and show strength, at this moment we can we be looking back for the high of this range (52k), with the only major resistance being 50k
If we break the triangle to the downside, we have the fib golden pocket right below us, which if we break, we can expect a quick move to the downside as we don't have much support below it.
Our major level of support would be around 39.5k, we also have a daily level at 40.7k
Any questions?
Good luck traders
Remember not to break your rules
Habib
