BTCUSD Possible Macro Descending Triangle



afce24b31ba16622e0ea7707404bef1c_1570389967_4275.png       d5021a3e74a237f7b667a13d990add56_1570390081_144.png 

BTCUSD Possible Macro Descending Triangle

Hello Traders,

BTC update on the larger scale, we could be seeing yet another descending triangle after this parabolic rise,

Points to consider:
- Parabolic rise into descending triangle
- Completion of possible wave 5
- Three Touches confirming price resistance, macro lower highs
- Volume Tapering off in a similar fashion
- EMA's looking to turn bearish
- stochs also showing more downwards momentum

BTC price action is looking more similar to the previous macro descending triangle that broke the well established $5,800 - $6,000 zone. We could see BTC retrace back to support (Green Zone) in the near future and if price holds support and bounces, then the likely hood of this being an actual descending triangle increases. Right now we need more price action on the longer time frame to confirm if this is the start of another potential larger move to the downside...

What are your thoughts ?

and remember,


“Learn to take losses. The most important thing in making money is not letting your losses get out of hand.” - Marty Schwartz
0 Comments

최근글


새댓글


Facebook Twitter GooglePlus KakaoStory NaverBand