Adam_Polinak

Bitcoin: What I am Watching Right Now

COINBASE:BTCUSD   Bitcoin
The important thing for the bulls is for BTCUSD to stay within the triangle (lines 1 and 3) which will signal a continuation of the uptrend if it breaks above (1-2 days for breakout, I don't see it happening sooner but it could). The second thing is for bitcoin to hold the 50 hour moving average, if not, it could fall below the triangle. Line 2 shows support lines at around 7600 which bitcoin needs to hold or it may fall further and quickly. I do not anticipate that happening, however, and am more bullish unless at least one of the things I mentioned happens. Note that if it breaks above the triangle in the coming days it will break previous recent resistance that this line also represents so expect new recent highs. Leave a like or comment if you agree and/or disagree, I'd love to know why
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