This is a following of my previous idea :
Since 4 months, BTC has formed a triangle (between the top red line and the bottom green line) and we need to watch it closely.
BTC is currently struggling with a FIB resistance around 8,4 - 8,6k (blue dashed horizontal line)
If it doesn't succeed to past it, BTC will go to the previous FIB support at 7.7-7.9k in order to gather some new strengths.
In the case of a break of this resistance, we will witness the test of the Red line which will be determinant for the future of BTC price for the next weeks.
if the red line is broken upward this will send a strong signal and may put an end of the bearish trend we have seen lately.
Since 4 months, BTC has formed a triangle (between the top red line and the bottom green line) and we need to watch it closely.
BTC is currently struggling with a FIB resistance around 8,4 - 8,6k (blue dashed horizontal line)
If it doesn't succeed to past it, BTC will go to the previous FIB support at 7.7-7.9k in order to gather some new strengths.
In the case of a break of this resistance, we will witness the test of the Red line which will be determinant for the future of BTC price for the next weeks.
if the red line is broken upward this will send a strong signal and may put an end of the bearish trend we have seen lately.