BTC did not make a break out. I think that is a positive, because now he can do a big ABCDE correction to the end. At the end of the correction (point E) can fall in a good position. I see here 2 good points.
1st: Correction will fall on the first support line, which is about $8100. If that "defence" will hold, it could happen break out of the triangle.
2nd: Correction will fall on the second support line, which is about $7200. This is more masive "defence" line then the 1st one, so more chance to make a big break out.
I belive both positions are a good buy zone.
Bad scenario: ... if 1st and 2nd defence colapse, there is another support line, but it is low at $5900. We dont like se that :)
Well...thats on my mind.....
1st: Correction will fall on the first support line, which is about $8100. If that "defence" will hold, it could happen break out of the triangle.
2nd: Correction will fall on the second support line, which is about $7200. This is more masive "defence" line then the 1st one, so more chance to make a big break out.
I belive both positions are a good buy zone.
Bad scenario: ... if 1st and 2nd defence colapse, there is another support line, but it is low at $5900. We dont like se that :)
Well...thats on my mind.....