Bitcoin btc long opportunities
Pulling the transaction distribution, the POC is around 40k, which happens to be the central axis of the consolidation relay triangle. The price backtested 39.5k last night and made a false breakout of the consolidation triangle. Correspondingly, there should be a true upward breakthrough. , the price is currently testing the upper edge of the triangle, and the view remains unchanged. The probability of an upward breakthrough is still greater, and the chance of winning for long will be higher than for short.
If the price successfully breaks through, we will pay attention to the two resistances above. These two positions are also short positions and you can try to short. The first one is the POC position of the consolidation triangle relay above, and it is at the 0.382 position, which is about 42.7k. The second focus is on the VAL of the consolidation box above, which coincides with 0.66, which is around 45.5k. If it can successfully break through these two positions, the target will be above 48k and 50k.
I personally don’t like to watch the market and prefer left-side trading strategies. Trading strategies are time-sensitive. All comments do not constitute any investment advice. I wish you all good luck~
