BITCOIN - STILL WITHIN DECISION MAKING ZONE - CryptoManiac101
BTC / USD TA
Bitcoin is currently within bullish pennant pattern. Bullish targets are outlined on chart. Since there's much uncertainty with Bitcoin on short term time frames and fractals, there's a chance of it flipping bearish and breaking support of $9,800 in which case we will be looking at targets of $9,100 and $7,700 in medium term.
Long positions have advantage here since we are right at the local pattern support, which means that there's a high chance that we see upward momentum. Hedging your positions here might not be the best idea, but you can certainly start opening small SHORT positions ones bearish confirmation line breaks and we close below it.
Bitcoin is currently within bullish pennant pattern. Bullish targets are outlined on chart. Since there's much uncertainty with Bitcoin on short term time frames and fractals, there's a chance of it flipping bearish and breaking support of $9,800 in which case we will be looking at targets of $9,100 and $7,700 in medium term.
Long positions have advantage here since we are right at the local pattern support, which means that there's a high chance that we see upward momentum. Hedging your positions here might not be the best idea, but you can certainly start opening small SHORT positions ones bearish confirmation line breaks and we close below it.
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