Hi Traders,
Another update on BTC, we could see either scenario play out. Firstly, we could see price break the bottom of the triangle and go lower to test the bottom of the channel+support. This would mean there would be an accumulation of buyers as price falls to the next support level (0.618 fib) or even lower to around $17000. Secondly, the scenario which my last update was on, which was that price breaks the top of the triangle, tests the all time high and then break it. On the daily timeframe we can also currently see that there has been retrace from the daily 20 MA.
Thanks
The Market Sniper Team
Another update on BTC, we could see either scenario play out. Firstly, we could see price break the bottom of the triangle and go lower to test the bottom of the channel+support. This would mean there would be an accumulation of buyers as price falls to the next support level (0.618 fib) or even lower to around $17000. Secondly, the scenario which my last update was on, which was that price breaks the top of the triangle, tests the all time high and then break it. On the daily timeframe we can also currently see that there has been retrace from the daily 20 MA.
Thanks
The Market Sniper Team
