MidnightOne
Long

BTCUSD Descending broadening wedge breakout

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I believe this is only the beginning of a breakout. See details in the chart. (no time component implied)
Below 9600 would invalidate this idea.
Comment: One more 3D closed, looks like a retest for now
Comment: Sorry for the premature last update as 3D didn't close at that time. However, it closed even higher and now the new one, while still open, made another retest
Comment: After such a prolonged consolidation under resistance the breakout is not going to stop at 11400. I repeat, this is not a fakeout, if you're long - stay long.
Comment: First target - 13400 (conservative)

Comments

how did you find out there is a breakout ?
Reply
dinc Morgan_Financial
@Morgan_Financial, it broke resistance
+1 Reply
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