If
BTCUSDT
is in a descending triangle, BTC should retrace to 0.786% on the Fib and I will take a long from there. If BTC bounces off the blue dotted line I believe we are in a symmetrical triangle and I will wait for confirmation of a breakout up or down before taking a position. That said, out of the two possibilities, I believe we are most likely in a descending triangle.
BTCUSDT
is in a descending triangle, BTC should retrace to 0.786% on the Fib and I will take a long from there. If BTC bounces off the blue dotted line I believe we are in a symmetrical triangle and I will wait for confirmation of a breakout up or down before taking a position. That said, out of the two possibilities, I believe we are most likely in a descending triangle.