topvaluestaking

Bitcoin is breaking out of the descending triangle - 5000$ next?

Giá xuống
BITFINEX:BTCUSD   Bitcoin
Bitcoin has formed a huge descending triangle. Descending triangles are considered mainly as bearish formations especially in bear market like the current one. I am not taking short trades in any crypto market but it seems like the support of 6200-6500$ isn't going to hold this time. The most likely zone of reversal in my eyes is still the 4900$ level and I ll be watching the price action if it gets there in order to buy for the long term. However, the technical target of a triangle breakout is the fat part of the triangle. In this case if we hit the target this is a 5000-5500$ move to the downside which should take as to the 1000$ area. Of course this is an unlikely scenario but in trading you must always be prepared for the unexpected and my money management plan has this scenario calculated as a possibility. You see, I m a long term believer of Bitcoin and if the market give us this huge opportunity of 1300-1000$ bitcoin, I d like to be buying at these levels when the people are panic selling and there is blood in the streets.


Thông báo miễn trừ trách nhiệm

Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.