BTC between POC and support

٢٨ يناير ٢٠٢١

So we re going to keep this clean.

Difficult to predict a direction at this moment because the price action is currently stuck between the Point of Confluence (red line) and the local support at 30k. Now we all know that a S or a R gets weaker on every test, the probability for the price to break the support on the lower side is about 70% at this moment, as a safety net we can consider the lower part of the bull flag keeping us for going further down.

Clear points:

- The bull flag (descending channel) is getting more and more importance as we have seen the last daily reject clearely on it
- The price is stuck between support and point of confluence


Using the triangle we can predict the time when the price action will leave at least one of the formations (triangle or flag). We have 19 days left to fill the whole triangle but usually the price breaks out at arount 70%-80% fill. this would mean that we should leave the formation in about 1-2 weeks.

1-2 weeks of uncertaintly and testing between the Support , POC and the upper part of the channel.