BTCUSD Breakout Trade Opportunity

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Depending on which side the breakout happens, there is a good opportunity to get into a trade after price breakouts out of this range. Be careful of fakeouts and it is always advisable to wait for at least 1-2 green confirmation candles after breakout for more confidence. Do not forgot the stop loss above or below this pattern depending on the breakout direction.

Just sharing an observation. Personally i think it is going up. Not financial advice and only trade what you can afford to lose. Nothing is ever 100%. Also avoid trading BTCUSD on weekends.

Good luck!
Comment: A rising wedge pattern has now formed on the 4hrly chart. It don't really matter what pattern it is. The important thing is knowing when to get in a trade to ride through the breakout either way. Best to wait for candle confirmations after breakout.

Related Ideas