What if Bitcoin forms a triangle?
We can't say right now that we have such a pattern. But if the market moves downward, it will give us a new local swing high. As result, the triangle pattern will be confirmed.
It will give us the borders for the market movement. A breakout will confirm further direction and give a trade opportunity.
If the price breaks the support line,m it will be a bearish signal. If the price breaks the resistance line, it will be a bullish signal.
How to use these signals, you will have to decide by yourself.
We can't say right now that we have such a pattern. But if the market moves downward, it will give us a new local swing high. As result, the triangle pattern will be confirmed.
It will give us the borders for the market movement. A breakout will confirm further direction and give a trade opportunity.
If the price breaks the support line,m it will be a bearish signal. If the price breaks the resistance line, it will be a bullish signal.
How to use these signals, you will have to decide by yourself.
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If the price breaks below the support line, it will give us a bearish signal and the main target 6600.00 - 6500.00 support zone.