Hello friends!
I hope you are doing well. As you can see, the price has entered a rising triangle which indicates the continuation of the previous trend which in our case is uptrend. According to J. Murphy's Technical Analysis of Financial Markets, price breaks out in 2/3 to 3/4 of the triangle apex length. so we expect the break out on 17-19 Dec. Meanwhile, price should fall back to 18200 (the lower band of the triangle). It is also very interesting to mention that the enormous amount of BTCs have been withdrawn from all exchanges in this price which indicates that this price will act as a very strong support for the price. You can check this on: ibb.co/d0HpHrH (reference: Cryptoquant)
NOTICE: This is just a scalp and nothing more! we are still in the uptrend toward 21500-22500
Have fun safe trading!
I hope you are doing well. As you can see, the price has entered a rising triangle which indicates the continuation of the previous trend which in our case is uptrend. According to J. Murphy's Technical Analysis of Financial Markets, price breaks out in 2/3 to 3/4 of the triangle apex length. so we expect the break out on 17-19 Dec. Meanwhile, price should fall back to 18200 (the lower band of the triangle). It is also very interesting to mention that the enormous amount of BTCs have been withdrawn from all exchanges in this price which indicates that this price will act as a very strong support for the price. You can check this on: ibb.co/d0HpHrH (reference: Cryptoquant)
NOTICE: This is just a scalp and nothing more! we are still in the uptrend toward 21500-22500
Have fun safe trading!