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BTC/USD daily chart using Fib retracement tool
BTC/USD daily chart using Fib retracement tool.
The evident pattern is a descending triangle. Waiting to see where pressure pushes price action at the tip of the triangle forming to the right.
A break to the upside of the top red trend line would be incentive to open a long position, and a break to the downside of the bottom red trend line could be a good short opportunity, with SL's of course.
The evident pattern is a descending triangle. Waiting to see where pressure pushes price action at the tip of the triangle forming to the right.
A break to the upside of the top red trend line would be incentive to open a long position, and a break to the downside of the bottom red trend line could be a good short opportunity, with SL's of course.
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