BTCISD Diamond Pattern Breakout Trade Opportunity on Hrly Chart
BTCUSD could be in a possible Diamond Pattern on Hourly Chart with breakout trade opportunity with an initial target of around 51400-51500. Further upside is also likely if this target is reached to possibly create a lower all-time high or even a new high. Diamond patterns are usually a reversal pattern and a bullish breakout is likely. Beware of fakeouts. For safer long trade on breakout wait for candle confirmations only hourly first.
Although there has been a rejection earlier, the buying pressure has no subsided and a breakout could still happen soon.
Just sharing an observation.
Only trade what you can afford to lose. Nothing is 100%, ever!
Good luck with your trades!
Although there has been a rejection earlier, the buying pressure has no subsided and a breakout could still happen soon.
Just sharing an observation.
Only trade what you can afford to lose. Nothing is 100%, ever!
Good luck with your trades!
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