Hey tribe.
BTC looking to form a triangle pattern pushed down by the sideward trendline that we have established during may and turned intro resistance when we had the great fall.
If we break down out of this pattern we may be seeing below 30k, since the technical target shows 29500 price.
We have strong supports at 37.5k, 35.5k and 31.5k, and we have strong resistances at 40k, 42k, and 45k regions.
If we have a break out, the potential target out of the triangle to the upside is around 47500.
We should wait for confirmation since fakeouts have become a usual part of triangle pattern breakouts in the last few months.
Do your own research, not financial advice. TA is here to clarify us the way something is going to go, not to exactly predict it.
Cheers!
BTC looking to form a triangle pattern pushed down by the sideward trendline that we have established during may and turned intro resistance when we had the great fall.
If we break down out of this pattern we may be seeing below 30k, since the technical target shows 29500 price.
We have strong supports at 37.5k, 35.5k and 31.5k, and we have strong resistances at 40k, 42k, and 45k regions.
If we have a break out, the potential target out of the triangle to the upside is around 47500.
We should wait for confirmation since fakeouts have become a usual part of triangle pattern breakouts in the last few months.
Do your own research, not financial advice. TA is here to clarify us the way something is going to go, not to exactly predict it.
Cheers!