Ascending triangle forming on btc, Still bullish.

Price has consistently failed to break the 11.1k level on the daily.

Ascending Trinagles are a bullish chart pattern - We saw one forming back when btc was in 4k area, Now its forming at the the current price range of 11k-13k.

IF it breaks above we could be looking at bitcoin TESTING ALL TIME HIGHS!

But nothing is certain in trading - So DYOR as well!

Main level to be aware of 11.1k We close below this level on the daily for any reason - This trade idea would be invalidated.

Wish you all good trading and profits!

Comment:

The green zone b/w 10.9k and 11.1k is the ideal buy area to manage risk.

Comment:

This idea is only valid as long as btc stays above 11.1k on the daily.

Comment:

So we wait. 2 more hours left before daily candle. If btc closes below 11.1k, It means this trade setup is not valid and it would imply a change in trend.

But lets wait and watch what magic happens in the next 2 hours.

Comment:

and voila! price bolted up from 10.8k -> 11.3k!! scary good stuff if you can trade the 1 min charts. ;) Long from 11,001! Plan to hold for a wile hopefully!

Comment:

Bullish divergence on 4h. If btc continues to hold 11.1k on daily charts expect more upwards movement!

Comment:

Sigh...The market makers simply dont want us to have any profits at all it seems. Yet another day of waiting to see where the daily CLOSES. On my previous position i got stopped out at 11.1k from my long @ 11k, Now currently just waiting to re-enter based on price movement.

Again, If daily breaks support of 11.1k - I have no problems turning bearish immediately.

Order cancelled:

Well that was an emphatic response from price action saying we have found the local top. Now its time to be bearish.