Moiseiev_Yurii
Long

BITCOIN price Trades in Big Triangle near Resistance Level

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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Reasons:
- Price trades in Big Triangle
- Price trades near Resistance level
- Resistance Level is 6950 $
- We can to open long if price will break resistance line or 2nd variant at support line of triangle in yellow zone
- Always do your own research before opening positions and always put SL

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Comments

We feel like this would be better interpreted as a bearish ascending wedge:

+10 Reply
FranSkaf XForceCrypto
@XForceCrypto, agree
Reply
Iamrunthala XForceCrypto
@XForceCrypto, yes bro it's a rising wedge 😊
Reply
Protixder XForceCrypto
@XForceCrypto, BItcoin about to breakout to above 7K
Reply
@Protixder, Yes, that was part of our analysis. A move up to 7.2k, and this ascending wedge would still be valid. We also gave an update on our telegram channel regarding a hidden bullish divergence on the 1H chart for the short term, making sure to cover all aspects!
Reply
@XForceCrypto, US/global stocks recovering already on stimulus. BTC may lag somewhat, but we are likely close to the cycle lows now. next stop is 10 000 USD.
Reply
Trendymanners XForceCrypto
@XForceCrypto, What are your criteria for selecting to top line? Appears to be inconsistent, sometimes selecting top of wick and sometimes selecting top of candle. If you pick candle top, you really only have 2 data points which makes for weak confirmation. Maybe you need more data to really call a rising wedge.
Reply
Is not Ta if you post analysis one long one short I dislike you non responsibility to the masses
+2 Reply
@muhamed123 exactly
+1 Reply
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