Sive-Morten

40.25K lows seem vital

COINBASE:BTCUSD   Bitcoin
Morning folks,

So, BTC has failed immediate upside breakout, although it really has tried... Now it seems that market is not too happy with recent Fed decision and has not joined to common euphoria. This is understandable, because number of BTC rivals now are increasing.

Still, we suggest that bullish context is not totally destroyed yet and mostly depends on 40.25K lows. BTC now is forming big triangle on 4H chart and we have "222" Buy inside of it. If lows holds, BTC could start moving back to top again. Especially if Dollar becomes weaker.

Bears should consider the opposite scenario - downside breakout of the same lows. Either to use stop "Sell" order around it or to wait for breakout...

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.