BTCUSD - Short Term Trading Idea

12 thg 9, 2017

BTCUSD

The price action is locked in two patterns at the moment. The larger pattern (global) being a symmetrical triangle with lower highs and higher lows in an ABCDE wave-formation and the smaller pattern being an ascending triangle trying to push beyond the resistance at 4383. Neither side is able to push the price far enough to break from the global and smaller pattern due to the uncertainty around China banning bitcoin exchanges. It's a war of narratives and influencing market psychology right now and provides great scalping opportunities between the support and resistance lines.