BTC has formed a symmetrical triangle which is reaching its apex soon- in blue. This weekend we shall find out.
BTC as well as ETH (my idea below) have to push higher over the weekend otherwise I can see us drop to lower support.
We don't want that to happen, but volume today was not that great and MACD and RSI seem to want to curve down both on 4h and daily, so we need to push higher to have more confidence in the bull case.
For now I remain timidly bullish, but it's good to be careful around this level as both BTC and ETH need to set a higher high on this local structure. So far that has not happened.
Best to avoid an entry now and wait for this formation to clear.
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BTC as well as ETH (my idea below) have to push higher over the weekend otherwise I can see us drop to lower support.
We don't want that to happen, but volume today was not that great and MACD and RSI seem to want to curve down both on 4h and daily, so we need to push higher to have more confidence in the bull case.
For now I remain timidly bullish, but it's good to be careful around this level as both BTC and ETH need to set a higher high on this local structure. So far that has not happened.
Best to avoid an entry now and wait for this formation to clear.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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