BTC showing signs of life as bulls make a quick climb from 31k to $38,500. This was an anticipated rebound into the symmetrical triangle before demand breakdown. Another lower high, but lower support zone has held so far.
Evening star/DOJI formed near the apex of the triangle. Expecting short term pullback in the 32-34 range. Aggressive longs may reenter after a daily close above the symmetrical triangle, which also will break the longer term downtrend. Conservative longs should look for a daily close in the upper support zone from 41,800 to 42,950.
The trend is your friend, don't bet against it!
Let me know if this is helpful for you down in the comments :) Happy trading
Evening star/DOJI formed near the apex of the triangle. Expecting short term pullback in the 32-34 range. Aggressive longs may reenter after a daily close above the symmetrical triangle, which also will break the longer term downtrend. Conservative longs should look for a daily close in the upper support zone from 41,800 to 42,950.
The trend is your friend, don't bet against it!
Let me know if this is helpful for you down in the comments :) Happy trading