Friends , btc seems to be in trouble. The 4h support at 10.1k seems to be broken as of this moment - which means that price is likely headed lower.
I'd take a short position at 10050 area and manage risk based on a 4h candle closing above 10.1k.
The chart pattern is arguably a descending triangle, It does not look like a symmetrical triangle to me.
Descending triangle are bearish chart pattern.
I'd take a short position at 10050 area and manage risk based on a 4h candle closing above 10.1k.
The chart pattern is arguably a descending triangle, It does not look like a symmetrical triangle to me.
Descending triangle are bearish chart pattern.
Note
This S/R level is more like a range and not a precise number. Till the daily closes above 10.3k i'll be bearish.
Trade closed manually
Took a loss and exited the trade for now. But if it goes below 10.2k again im shorting.
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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.