jon_sweet

Is BTC about to test the descending triangle resistance?

COINBASE:BTCUSD   بتكوين
Volume is dropping off, which I think means we will soon see some significant price action. The key levels that I am looking at are a test of the falling resistance and if successful, I will be looking to go long until about $13,000. If BTC fails to break, then I think we are going to test the resistance at around $9,300. If we break that resistance, I will be looking to go short until $8,500. I may come out of either trade early, if the volume is not significant. On the flip side, if there is a significant uptick in volume, I may hold onto the trade longer.
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