BTC/USD again at a key junction in the coming hours.
Clear Triangle formation which is actually sitting towards the bottom of a larger parallel channel if you zoom out.
I currently see it sitting towards the bottom of the triangle looking to escape down soon although be ready for an upwards quick breakout towards 10.5K
Bulls seem to have a habit right now of turning on the pump switches.
Personally, I think we'll get a quick burst upwards followed by a dump.
Currently I'm short but watching close to manually close my positions if I feel the pump is on and then I'll re-enter at a higher point.
Trade Smart, Trade Safe!
Clear Triangle formation which is actually sitting towards the bottom of a larger parallel channel if you zoom out.
I currently see it sitting towards the bottom of the triangle looking to escape down soon although be ready for an upwards quick breakout towards 10.5K
Bulls seem to have a habit right now of turning on the pump switches.
Personally, I think we'll get a quick burst upwards followed by a dump.
Currently I'm short but watching close to manually close my positions if I feel the pump is on and then I'll re-enter at a higher point.
Trade Smart, Trade Safe!
What's next?
Well have to wait a little longer to see but the EMA 10 support has now fell through so it's building a more bearish picture at present.