Dear traders and followers,
the Bitcoin price broke out of middle term triangle on higher time frame and closed several times under the triangle trend line.
If the current or next 12 hour candle doesn't move back into the triangle and close within it we can expect with high probability a down movement to at least 10500 $. This area is first strong support area on the weekly chart.
MACD indicator is near 0 line - expect sellers entering the market as soon the sell volume starts to grow again and the baselines move under the 0 line.
As I know the Bitcoin a move back into the triangle and thus a bear trap is well possible. Often the Bitcoin does the exact opposite of what is shown in the textbooks. Lets wait for a clear signal before entering any position.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Thanks for your support !