BTC closed for the week above the 18WMA ( I use the 18 WMA because my mentor Peter L Brandt introduced it to me and it works very well with my system). Looking back at BTC in the past, price seemed to bounce off the 18DMA every time it pulled back.
BTC is in a symmetrical triangle but patterns morph every time depending on the market and it is our job as analyst to adapt accordingly. Symmetrical triangles is a confusion pattern in which price don't know where to go. I am hopping for this to break in the upside making this symmetrical triangle a continuation pattern.
Expect more side ways movement in the days to come.
BTC is in a symmetrical triangle but patterns morph every time depending on the market and it is our job as analyst to adapt accordingly. Symmetrical triangles is a confusion pattern in which price don't know where to go. I am hopping for this to break in the upside making this symmetrical triangle a continuation pattern.
Expect more side ways movement in the days to come.