BTC breakout of Ascending Triangle...bullish continuation?

6 באפר׳ 2020

While BTC has been range bond within the Ascending Triangle supported by the 222 EMA on topside. Below we have 55 & 99 EMAs converging with trendline providing additional support. An ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. However, with overall macro picture it will be interesting to watch if bitcoin can break to the upside and make higher highs here? Regardless it will be a big candle when bitcoin does make its move.

6 באפר׳ 2020

הערה

With the number of scam wicks liquidating shorts this past week it important to keep in mind that liquidity is currently sitting below us. Moving down to the 5400 - 5200 range would then allow bitcoin to begin its move upward to new ATHs moving forward.