BTC again needs to break out trend line and confirm
Hi guys,
i am not a pro but here are my thoughts.
We can see the trend line that Bitcoins has been following and failing to confirm the break two times which invalidated them as fake outs. So as it appears it might consolidate a few days on this level around 36k or maybe until tomorrow when the Fed meeting is as i remember. I think the meeting is already priced in but not by the regular person. Anyway no this time we need to break above the trend line and the 37.5 Fibonacci level and with the ideal outcome to test again the 37.5 for confirmation of the break out or a bit lower on the trend line and then head North. The other option is to fail break or fail confirm the break and fall again which will lead us to 30k. Testing 29-30k is bad and if it doesnt hold , 20k is on the table. In reality no one knows where its gonna get so we will have to wait and see.
i am not a pro but here are my thoughts.
We can see the trend line that Bitcoins has been following and failing to confirm the break two times which invalidated them as fake outs. So as it appears it might consolidate a few days on this level around 36k or maybe until tomorrow when the Fed meeting is as i remember. I think the meeting is already priced in but not by the regular person. Anyway no this time we need to break above the trend line and the 37.5 Fibonacci level and with the ideal outcome to test again the 37.5 for confirmation of the break out or a bit lower on the trend line and then head North. The other option is to fail break or fail confirm the break and fall again which will lead us to 30k. Testing 29-30k is bad and if it doesnt hold , 20k is on the table. In reality no one knows where its gonna get so we will have to wait and see.
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