TopTrader77

BTCUSDT a breakout in the rising channel and probable retest

BINANCE:BTCUSDT   Bitcoin / TetherUS
Friends, hello everyone! Today I have done a short review of a BTCUSDT and I would like to share my vision of current situation. As I pointed out on the graph the price is traded in the rising channel and also globally we have a figure of the rising wedge that also signaled the reversal of the upward trend. As we can see, inside the globally ascending canal, we have a local ascending canal. Inside it, the price went through and retested the line of resistance and went to the lower edge of the global upward triangle, as a bear takeover was observed with further very impulsive price reduction and fixing at the lower boundary of support. Cryptocurrency exchanges also broke local stops, resulting in a marked increase in trade volumes (Bitfinex sold 693 Btcs at $10,700 per market). Based on the data provided to us, I assume that the price will continue to fall, but I’m waiting for a slight correction now, namely, the retest of the resistance line and then I will consider Short-position. It’s not a call to action, it’s just my opinion.
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