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.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.