Bitcoin: The Market Forms a Triangle. New Trade Opportunities!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
What if Bitcoin forms a triangle?
We can't say right now that we have such a pattern. But if the market moves downward, it will give us a new local swing high. As result, the triangle pattern will be confirmed.

It will give us the borders for the market movement. A breakout will confirm further direction and give a trade opportunity.

If the price breaks the support line,m it will be a bearish signal. If the price breaks the resistance line, it will be a bullish signal.

How to use these signals, you will have to decide by yourself.
Dec 08
Comment: The triangle was confirmed. It means a breakout above the upper line will give us a bullish signal.

If the price breaks below the support line, it will give us a bearish signal and the main target 6600.00 - 6500.00 support zone.
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Looking good. As it gets tighter, the risk reward gets better. =) Will use this to position and add more shorts to my Fibo analysis.
lets see. i would say a little more up. like this ...

The price will fall!
+1 Reply
ultimate btcusd daily chart update extended version a/b/c/d/e/f.
you did make the great work) btc following the upward plan
+2 Reply
Nice Chart!
Would be great what you think about my last idea. Currently the price has a local uptrend and if this trend continue we might get a bearish signal from the indicators.
In my analysis I explain how to work with this signal efficiently, and some important details.
+1 Reply
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