BTC is stuck in a symmetrical triangle—it's like a market seesaw. Not picking sides yet, but get ready for a possible jump! 🚀
What is Symmetrical Triangle?
The symmetrical triangle pattern is a neutral chart formation. Two converging lines are moving to each other as the market makes the lower highs and the higher lows. As the space between two converging lines gets narrower, the likelihood of a strong breakout increases. So when you find Symmetrical triangle as its the neutral pattern the market is not gonna go bullish or bearish. The best strategy is to stay out from the market when this happens, Don't force the trades, It's always better to save your capital. Once you see the breakout on symmetrical triangle you will find better opportunities in the Market.
Another successful trade on #YFIUSDT shared in my group.
Trade Breakdown:
An uptrend breakout trade is like catching a ride on a rocket when the price jumps over a major resistance hurdle. It means the trend might keep going up, and traders hop on by buying to ride the wave. Checking for more trading action (volume) helps make sure it's a solid move. 🚀
BTC continues its trend with higher highs and higher lows. The recent short-term correction has been done, and the positive update is that we now have a well-defined exit strategy. A break below 35k serves as our initial warning, followed by the potential for a lower high and subsequently a lower low. Stay informed and trade wisely.