BTCUSD - Breaking the trendline or continuing to the upside?
Hello traders,
For Bitcoin the highest probability direction is to the downside as we expect a bigger correction in this area. If the price breaks the yellow trend line marked on the chart we will have to assess where the price stops, as the first potential reversal area is marked on the chart with "area to watch". If the price stays above the trend line and consolidates further in this area we could see a continuation of this upside trend.
Trade with care.
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. We do not recommend making hurried trading decisions. You should always understand the risk that trading implies and that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
For Bitcoin the highest probability direction is to the downside as we expect a bigger correction in this area. If the price breaks the yellow trend line marked on the chart we will have to assess where the price stops, as the first potential reversal area is marked on the chart with "area to watch". If the price stays above the trend line and consolidates further in this area we could see a continuation of this upside trend.
Trade with care.
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. We do not recommend making hurried trading decisions. You should always understand the risk that trading implies and that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
