As we can see BTC price is now consolidating in a bearish triangle pattern after a strong bearish impulse. There are two possible scenarios of price moving in that kind of situation.
1. More possible and likely scenario is trend continuation to 3000$ area, which is a strong support zone.
2. Less likely scenario is trend reverse and price moving to 5600-5800$ area, which is a strong resistance zone of BTC.
My personal advice: Be patient, wait until triangle breakout and enter into position after a confirmation.
1. More possible and likely scenario is trend continuation to 3000$ area, which is a strong support zone.
2. Less likely scenario is trend reverse and price moving to 5600-5800$ area, which is a strong resistance zone of BTC.
My personal advice: Be patient, wait until triangle breakout and enter into position after a confirmation.
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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.