BTC 1G Chart – Triangle Break is Near
Bitcoin / US Dollar GEMINI:BTCUSD
BTC When we draw from the needles in the daily time frame, there is a triangle formation and it is seen that the break is approaching. I showed the targets on the chart with dashed lines according to the direction of this breakout, which will occur in 1 to 3 days. The continuous decrease in volume supports the formation. by day RSI It may be possible to predict the breakout direction by following the trend.
It is necessary to be skeptical that it goes to the target without closing the day above or below the areas that I have shown as rectangular regions in the chart. Because for the past year BTC There are always fake breakdowns in price movements and traps are often set, sometimes accompanied by volume, to exclude leveraged players.
Finally, the levels I show with the two straight lines are important support and resistance levels on a daily basis, where price is stuck between these two levels. This is another indication that there will be an explosion in one direction soon.