Gebbo

Bitcoin Ascending Triangle

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
After the break of the yellow triangle to the upper side and above 5200 Yuan, we are stuck in a ascending triangle. We have a big resistance above the 5350 Yuan level. We have to break the 5450 Yuan level before we can go up higher in price. The next big support level is around 5100 Yuan. After a possible downward move the price should trend up on the turquoise trendline until it hit the 5350-5450 and break it to the up side with a target around 6000-6300 Yuan.

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