State of Mind - April 12th

State of Mind - April 12th



New day on the crypto market!


Here we are again under the level of 6,900$, the Bitcoin is thus always in phase of indecision by alternating the bullish and bearish days since a few days.


What can we expect from this movement? While we'd like to see a bullish trend on Bitcoin, we'll have to be patient once again.


Indeed, in 2h time horizon, we can distinguish a bottom symmetrical triangle configuration. Even if it is not an exact science, this figure gives rise to a downward break in 57% of cases. It is therefore important to take this into account before considering taking long positions on Bitcoin.



Nevertheless, it is a typical figure of indecision which shows a breathlessness of the selling pressure. Even if the break will probably be bearish, it is not impossible to see the BTC turn violently up after having still fallen following this triangle.


To summarize, we are not yet at the end of the trend but we are approaching it! While waiting for the real turnaround, take a look at the main technical levels and don't forget your stop-loss!



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