Bitcoin more sell-off Unless it keeps the 21Daily-MA
Hi,
Bitcoin is strongly holding the 21 Daily Moving Average for almost 3 months,However a clear Symmetrical triangles can be recognized. Considering that Symmetrical triangles tend to be continuation break patterns, meaning that they tend to break in the direction of the initial move before the triangle formed.As a result, It is most probable that we see Bitcoin in 8700-9200$ range in the next few days.
P.S
I am totally new in TA and these analysis are just about sharing the idea and learning purposes. As a result , Take it easy!!
Bitcoin is strongly holding the 21 Daily Moving Average for almost 3 months,However a clear Symmetrical triangles can be recognized. Considering that Symmetrical triangles tend to be continuation break patterns, meaning that they tend to break in the direction of the initial move before the triangle formed.As a result, It is most probable that we see Bitcoin in 8700-9200$ range in the next few days.
P.S
I am totally new in TA and these analysis are just about sharing the idea and learning purposes. As a result , Take it easy!!