BTC broke out of this triangle that we have been in for a while now, and we are now at resistance.
The 49-50k area is a big resistance area (fib golden pocket, VAH, low of an old channel), so we have nice confluence here.
If we see a change of market structure on the LTF (5-15min chart) you can start looking for shorts.
If we break this resistance area we have high probabilities of moving to our next resistance (the weekly at 51.8k) which is also the high of this range.
Any questions?
Good luck traders
Remember not to break your rules
Habib
The 49-50k area is a big resistance area (fib golden pocket, VAH, low of an old channel), so we have nice confluence here.
If we see a change of market structure on the LTF (5-15min chart) you can start looking for shorts.
If we break this resistance area we have high probabilities of moving to our next resistance (the weekly at 51.8k) which is also the high of this range.
Any questions?
Good luck traders
Remember not to break your rules
Habib
