Daily Descending Triable
Short Term Outlook: Bearish
Long Term Outlook: Bullish
Things are not looking good for Bitcoin as it continues to fail on breaking out past these resistance levels. Most notably the range from 37.5k - 40k.
Zooming out to the Weekly you can see a bear pennant starting to form up. Now, if the bulls fail to have a sustained breakout then we could expect the price to revisit 30k, with a flush to 28k (Long position liquidation).
On the Weekly timeframe, the 50 ema is currently hovering around 26k. That would be where I set up short with trailing stops.
Also, this is not financial advice.
Long Term Outlook: Bullish
Things are not looking good for Bitcoin as it continues to fail on breaking out past these resistance levels. Most notably the range from 37.5k - 40k.
Zooming out to the Weekly you can see a bear pennant starting to form up. Now, if the bulls fail to have a sustained breakout then we could expect the price to revisit 30k, with a flush to 28k (Long position liquidation).
On the Weekly timeframe, the 50 ema is currently hovering around 26k. That would be where I set up short with trailing stops.
Also, this is not financial advice.
Nota
Weekly ChartNota
The Volume on the Daily tells the story.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.