Looking at the 4h chart we could tell there is a symmetrical triangle formation. MACD has just crossed, volume has been increasing and we are catching up the EMA50, some good early signals. Too early to say if it's a trend reversal though. Let's wait for the next chapters. What would you guys say?
Thanks for reading.
Thanks for reading.
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So at the first attempt, we hit the downtrend line (red one inside the triangle) and went back. It seems we've got another shot. Btc futures are expiring tomorrow. Let's see what happens!
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We have a pretty solid triangle now, with 3 lower highs and 3 higher lows, a break either above or below it can be crucial.
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So we had an upward breakout, it wasn't a strong one though. Nevertheless, I would like to draw your attention to the 1day chart, where MACD just had a bullish crossover after 20 days from the bearish one. That's definitely something. I'm bullish on bitcoin and expecting 15-16k within the next 10 days.