BTC STATUS UPDATE

2022年3月5日

Daily view.

We are in a triangle formation that is pretty wide , yesterday rejected from the POC and recently from the bottom of the Kumo cloud. The price is squeezed between two technical S/R levels and will probably stay like this till late Sunday.

I cancel the potential long idea from yesterday and urge everyone to take a standby stance.

On the chart i noted the potential break points on the daily.
Upper side 40300
Lower side anywhere on the trendline

We pierced the kkumo cloud on the downside in it's weakest point and i do not expect the price to pierce it on the upside in a thick cloud.

What to do :
Standby , i do not consider this a good entry on BTC neither long or short