#BTCUPDATE - 1.6.21
#BTCUPDATE - 1.6.21
We are at the business end of the deal now - coming to a close of the consolidation triangle now with BTC.
Right now trying to guess the direction of BTC is a fools game - play to the direction of the break, we should be seeing this play out in the next 2-3 days. Over the coming days I would expect some sort of massive FOMO or FUD news to drop to drive the direction (possibly).
Simply trade accordingly - a break up (approx. 36.5k with daily close)) then extremely conservative long targets of 40k &
42K before strong retrace.
A break down (approx. 34.7k with a daily close) will quite conservatively see a push to 31.3k and then almost inevitably to 30k where there will likely be a strong bounce/bull trap.
There is a possible 3rd scenario that we have seen in previous corrections followed by breakdowns in these consolidation triangles which dumps hard then start a consistent rise to ATH's.
We are at the business end of the deal now - coming to a close of the consolidation triangle now with BTC.
Right now trying to guess the direction of BTC is a fools game - play to the direction of the break, we should be seeing this play out in the next 2-3 days. Over the coming days I would expect some sort of massive FOMO or FUD news to drop to drive the direction (possibly).
Simply trade accordingly - a break up (approx. 36.5k with daily close)) then extremely conservative long targets of 40k &
42K before strong retrace.A break down (approx. 34.7k with a daily close) will quite conservatively see a push to 31.3k and then almost inevitably to 30k where there will likely be a strong bounce/bull trap.
There is a possible 3rd scenario that we have seen in previous corrections followed by breakdowns in these consolidation triangles which dumps hard then start a consistent rise to ATH's.
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