Bitcoin and 🚩Symmetrical Triangle🚩

2023년 7월 30일

Hi everyone👋(I hope you had a great weekend).

As you know, trading volume is low on Saturdays and Sundays(generally).

After breaking the 🟢support zone($29,850-$29,480)🟢, Bitcoin has started to form a Symmetrical Triangle Pattern this weekend.

📚The Symmetrical Triangle, which can also be referred to as a coil, usually forms during a trend as a Continuation Pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended, and the symmetrical triangle takes shape.📚

💡It is interesting to note that when Bitcoin hits the upper line of the symmetrical triangle pattern, the Volume of Trading is higher than when Bitcoin hits the lower line of the symmetrical triangle pattern. This happen shows us pressure of sellers is high.

🔔I expect Bitcoin to move towards the 🟢support zone($28,450-$28,080)🟢 ⚠️after⚠️ breaking the lower line of the symmetrical triangle.
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🌐➕Positive News➕🌐:

Congressman Patrick McHenry: Bitcoin is a “Financial Revolution.”

Robert Kennedy Jr. reveals buying 2 Bitcoin for each of his 7 children.

🌐➖Negative News➖🌐:

A new law requiring USA citizens to report Cryptocurrency transactions above $10,000 is one step closer to being approved.
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Bitcoin Analyze ( BTCUSDT ), 1-hour time frame ⏰.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.

Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.

2023년 7월 30일

액티브 트레이드

2023년 7월 31일

노트

It seems that Bitcoin failed to break the downtrend line.