Incoming Triangle Break BTC/USD : Minority Venture Capital (MVC)
Keep watching the triangle as its break will be very influential.
While the rally in the past few hours saved BTC from breaking down, there is a MRI top on the hourly coming in one candle. Will it reject the price and force a downward break or will the 4hr chart prevail?
Even if we break to the upside, I wouldn't take a long trade until we close above the daily 50 SMA (currently at about 36000) and preferably above the resistance at 37600.
While the rally in the past few hours saved BTC from breaking down, there is a MRI top on the hourly coming in one candle. Will it reject the price and force a downward break or will the 4hr chart prevail?
Even if we break to the upside, I wouldn't take a long trade until we close above the daily 50 SMA (currently at about 36000) and preferably above the resistance at 37600.
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