BITCOIN: Symmetrical Triangle broke out by the top...

in #bitcoin • 6 years ago (edited)

Guys, seems we had a breakage of the symmetrical triangle.

Unfortunately, despite a tiny increase at the volume, it has not been sufficient to continue the rise for the moment.
Seems that the place from which the triangle has broken is becoming another support so, let's say we have at least gain some level but, apparently, still not sufficient... it could become a BULL TRAP again...

Hope we can consolidate this price level now...

As I said in previous post, we need to break the Mid-term Resistance (BEARISH TREND) and then reach a level of price higher than the previous high (see in the chart) in order to confirm the reversal...

The 200-Days Moving Average is still far from crossing the price...

Enjoy!

@toofasteddie

*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently.
Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

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#cryptocurrency #crypto #investorsgroup #timm
6 years ago in #bitcoin by
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    • [-]
     6 years ago 

    Well I take it that there are signs of possible sustained breaks in the near future, hopefully...

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     6 years ago 

    @toofasteddie, nice analysis! Today at work with my collegues we discussed for almost 2 hours the triangle/s in BTCUSD pair. Most of them think that the price of Bitcion is slowly slowly bottoming up. But I still want to see at least one maximum (Peak) in the chart that is higher than the previous one. So, only if BTCUSD renews the level of $7400 (the previous Peak) I may consider it as a potential for a trend reversal (we are still in a downtrend on a daily timeframe, at least in my view).

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    [-]
     6 years ago 

    So, we are all aligned then...
    Will see what happens 😉

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    [-]
     6 years ago 

    Yeah, man! We will see. I am very curious about the triangle/s. Btw, from a fundamental point, in my view, only a solid enlargement of the Lightning Network can boost significantly the price of Bitcoin.
    Ok, It is too late in Moscow. I'll go to sleep. So, see you later!

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      [-]
       6 years ago 

      target? mooon

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         6 years ago 

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