BTC CORNER MOVE

29 окт. 2019 г.

A big move is around the corner in Bitcoin (BTC). The 1H chart for BTC/USD shows the price trading within a symmetrical triangle that it will soon have to break out of. Before we see an actual downtrend begin, we could see a fake out aimed at shaking out retail bears before the big move to the downside comes into effect. The price is up against two strong resistance zones. The first is the 38.2% fib retracement level from the all-time high whereas the second is the 38.2% fib retracement level from the yearly high. Both of these are strong resistance levels that the price will find very hard to break out of.