We are just coming to the end of a consolidation whilst arguably still under a key support although not enough to confirm the direction of the exit to this consolidation triangle.
It is impossible to say right now which way its going to go given the general disarray with BTC rn.
We have low liquidity zones above and below this point also so its either going to $49.5k or $43k.
My play is a drop below $45.5k then short to $43.2k and if it breaks above $47k then long to $48.3k with a stretch target of $49.5k.
Alts are looking pretty strong rn but wait for BTC to make its move.
It is impossible to say right now which way its going to go given the general disarray with BTC rn.
We have low liquidity zones above and below this point also so its either going to $49.5k or $43k.
My play is a drop below $45.5k then short to $43.2k and if it breaks above $47k then long to $48.3k with a stretch target of $49.5k.
Alts are looking pretty strong rn but wait for BTC to make its move.
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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.