BTC/USD
Bitcoin is potentially nearing the completion of a Running Triangle and setting up possible Long scenarios to consider.
Currently we have seen a reaction at the 1:1 extension, potentially presenting a Long opportunity at the current market price with a stop below the 1.618 @ $53,485 or a complete invalidation point @ $50,550. Comparatively, this is the more risk heavy trade setup with volatility towards the downside and less support.
Therefore my bias leans towards an entry more towards the 1.236 - 1.382, with a closer invalidation point as well as support near the bottom of the trendline. However, Running Triangles tend to lean more Bullish with reactions from shallower extensions - potentially indicating that Bitcoin is nearing a point for continuation higher.
Currently we have seen a reaction at the 1:1 extension, potentially presenting a Long opportunity at the current market price with a stop below the 1.618 @ $53,485 or a complete invalidation point @ $50,550. Comparatively, this is the more risk heavy trade setup with volatility towards the downside and less support.
Therefore my bias leans towards an entry more towards the 1.236 - 1.382, with a closer invalidation point as well as support near the bottom of the trendline. However, Running Triangles tend to lean more Bullish with reactions from shallower extensions - potentially indicating that Bitcoin is nearing a point for continuation higher.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.