Hi Folks,
- We are seeing a potential descending triangle on EGLD/BTC chart. If it breaks to the upside, I expect a HUGE move to the upside.
- However, there is a possibility of a strong BTC upside continuation, hence the triangle could break downwards.
- Not too worried about the Death Cross on the 4hourly, it can quickly turn into a Golden Cross
- Before entering any trades, watch for confirmation of break towards either upside or downside. This is not financial advice.