IF DESCENDING TRIANGLE GETS INVALIDATED (bullish scenario) BTC
Good afternoon traders,
First of all, please get this post 30+ likes to unlock the next technical analysis đź‘Ť
Second of all, if this descending triangle gets invalidated and we get a 4 hour or daily close above $34,000 - $34,555 this scenario may play out.
$42,000 is a key market structure area of interest, there's been a few s/r flips at this level and it was big support but now its been resistance.
There's always a chance we nuke and I'm not betting on this scenario happen (I'm not trading until we get a clear direction probably later this week) my bias is neutral and I'm going with the flow of the market.
This scenario would likely confuse the entire market and bitcoin loves max pain scenarios (BTC)
Stay safe, and cheers fam đź‘Ť
First of all, please get this post 30+ likes to unlock the next technical analysis đź‘Ť
Second of all, if this descending triangle gets invalidated and we get a 4 hour or daily close above $34,000 - $34,555 this scenario may play out.
$42,000 is a key market structure area of interest, there's been a few s/r flips at this level and it was big support but now its been resistance.
There's always a chance we nuke and I'm not betting on this scenario happen (I'm not trading until we get a clear direction probably later this week) my bias is neutral and I'm going with the flow of the market.
This scenario would likely confuse the entire market and bitcoin loves max pain scenarios (BTC)
Stay safe, and cheers fam đź‘Ť
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