After bouncing from just below 61.8 Fib. this market is confined to a symmetrical triangle. As you can see from a chart there are two possibilities. I am more inclined to think that it will break on the upside with TP at 1.74. The volumes haven't been the greatest lately, but I believe that it is due to the overall public sentiment toward the whole cryptocurrency market. And it will pick up once we see some positive moves. Lets wait for the positive break out and plan our trades accordingly.
This is an idea and thus should be treated as such.
This is an idea and thus should be treated as such.
Comment:
Just realised looking at M30 chart that there is possibly another triangle within a triangle or a support line formed. That could be an early indication of the break to the upside. Lets wait for the break out.
