A very little in-depth analysis

7 mag 2023

BTCUSD
BTCUSDT
BTCUSDT

Hello, it is me again, I usually post "short" minds but in this case, in a good sunny sunday, I will post an idea to extend a little more about what could happen next:

In the chart you can see a symmetrical trinagle. If we extend in the incoming rupture the amplitude of the breakout we have 2 points that are very posible because they fit in theorical basic points:

1. We are in the breaking range. As I said repeatly this week, we are supporting on the average of the uptrend big channel. In the next few hours it will break, uptrend or downtrend, it will break HARD.

2. If it breaks to the downtrend, we will visiting 24-26k, the bottom line of the uptrend big channel. There, it will stop, YES OR YES, because that down part of the channel is a HUGE support. Also, we have 200 ema @ 1 Day there (white line). I dont know what could happen there, fundamentals will take in action.

3. If it breaks to the uptrend, we will be trying to break 30 & 31k (3.1). They are some "hardy" resistances, if the price breaks them with attitude and dont go back fast, we will be visiting 34k. And well, again, it is the upper line of the big uptrend channel.

What are my ""odds" in point 2 & 3? Well, I would say 60 % 40%, there are some more odds to try that 30-31-34k. As I said in the point 1, we are supporting (or returning fast to it) on the average of the uptrend big channel (green line). We have 1D MACD in the uptrend cycle and there is no negative fundamentals right now. I will long if we break above 29400 and it doesnt come back in a few hours with a stop loss at aprox 28800. Short? I dont know yet, we should first break 28300 to enter in a serious short position.

Than you for listening me :)