After the initial resurgence from $6,800 this week, price has since stalled and waiting to see if the bulls or bears will take control.
Looking at the smaller time frames, BTCUSD has been squeezing into a triangle pattern that upon break out, will provide insight into the next trend direction. It is possible to place a STOP-LIMIT order above and below waiting for a break-out to the respective consolidation zones that would offer at least a 2:1 risk reward.
Enjoy.
Looking at the smaller time frames, BTCUSD has been squeezing into a triangle pattern that upon break out, will provide insight into the next trend direction. It is possible to place a STOP-LIMIT order above and below waiting for a break-out to the respective consolidation zones that would offer at least a 2:1 risk reward.
Enjoy.
Note
Another breakout forming on 30 minute chart. This could see a strong impulse move into consolidation zone.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.