pragmaticbestfit
Long

BTC is pumping and its only June 5. (but in Asia...)

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We just had a pretty big move up which looks like the bottom of a channel (slightly different channel compared to my original green channel in previous ideas). My guess it that there is a potential chance that we could create an ascending triangle using the current channel and resistance lines above however this is obviously pure guessing currently. If we break the green channel to the downside I still see the bottom of the long term triangle (blue) as possible support however going this low seems a bit dangerous and could in my opinion suggest more down side as it would possibly create low lows on higher time frames.

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pragmaticbestfit pragmaticbestfit
@pragmaticbestfit, Updated MAs and drawn an alternative ascending triangle
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Is pure guessing?
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@Oboogie, We don't have any confirmations of such a pattern but I still find it somewhat likely that the price will be squeezed into an ascending triangle.
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