Good Morning Traders.☕️
As you can see there is a acending triangle formation on the 30 Min BTC/USD chart, as we all know the ascending triangle is both a bullish and bearish sign. Meaning that a break out up or down is possible with in the next 24 hours. Ideally traders will wait for a break out and a retest confirmation on the support / resistance line. In this case I am hoping for a bullish outcome (meaning the price will break up) as this could spark a run which takes us back up to the 68-69K range.
However it is not impossible that we will see a bearish outcome which will take us back to the 62-63K range where we have a strong support.
Best of luck with your trading journey ❤️ and remember to follow the big 5 rules:
1.) Never enter a trade without a profit target and a stop loss.
2.) Always use multiple indicators to confirm a trade.
3.) Don't be greedy.
4.) If you lose take the day off and come back tomorrow.
5.) Do your own due diligence and analysis (market, technical and fundamental)
As you can see there is a acending triangle formation on the 30 Min BTC/USD chart, as we all know the ascending triangle is both a bullish and bearish sign. Meaning that a break out up or down is possible with in the next 24 hours. Ideally traders will wait for a break out and a retest confirmation on the support / resistance line. In this case I am hoping for a bullish outcome (meaning the price will break up) as this could spark a run which takes us back up to the 68-69K range.
However it is not impossible that we will see a bearish outcome which will take us back to the 62-63K range where we have a strong support.
Best of luck with your trading journey ❤️ and remember to follow the big 5 rules:
1.) Never enter a trade without a profit target and a stop loss.
2.) Always use multiple indicators to confirm a trade.
3.) Don't be greedy.
4.) If you lose take the day off and come back tomorrow.
5.) Do your own due diligence and analysis (market, technical and fundamental)