FX.co ★ BTC analysis for August 03,.2020 - Symmetrical triangle in creation, watch for the breakout to confirm furher direction

Further Development

Analyzing the current trading chart on the 4H time-frame, I found that there is still symmetrical triangle chart formation in creation, which is sign that BTC is in period of contraction and that breakout should happen in next period.

Watch for the breakout to confirm further direction.

The key resistance is set at $11,400

Support is seen at the price of $10,900

Projected up target is set at $12,140

Projected down target is set at $9,800