XBTUSD forms bearish symmetrical triangle. Two areas of support.

28 mar 2018

Greeting fellow traders. BTC has formed a symmetrical triangle on the 4 hr chart with price descending from previously higher prices. These patterns are continuation/consolidation patterns which nearly always continue moving in the same direction from which they entered. I have drawn two areas of support for those looking to enter a long position or to cover shorts positions. We have a recent low from 03/17 of $7305 that could prove support and I have a long term trendline from the highs in December and a recent low coming together at around $5850.

Trade wisely.