HELLO ALL AND GOOD EVENING TO EVERYONE.
Here is a short term outlook for BTC and a potential play we could be seeing. Next target will be at the upper trend line of the triangle around $9,700. We should be careful for early attempts at breaking this resistance early as it would likely lead to a harsh rejection and failure of the pattern. After reaching the target (D) we would look for (E) being the final touch before getting a measured move up out of the triangle to the marked fib area. 200 EMA on the 4H is going to be crucial here and we do not want to see price closing below that in the near term. Any deviation from this pattern will nullify it and force us to come up with a new plan.
This is only my opinion and not trade advice.
Here is a short term outlook for BTC and a potential play we could be seeing. Next target will be at the upper trend line of the triangle around $9,700. We should be careful for early attempts at breaking this resistance early as it would likely lead to a harsh rejection and failure of the pattern. After reaching the target (D) we would look for (E) being the final touch before getting a measured move up out of the triangle to the marked fib area. 200 EMA on the 4H is going to be crucial here and we do not want to see price closing below that in the near term. Any deviation from this pattern will nullify it and force us to come up with a new plan.
This is only my opinion and not trade advice.
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