VincentBoudewijn
Long

Ascending Triangle forming - Breakout again

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Hi everyone,

A quick update on bitcoin . Bitcoin seems to form an ascending triangle . See reference here: http://swing-trading-strategies.com/wp-c...
If you check the hourly RSI you can see that the first dump was hard, the second one was soft. Alot of buyers can be spotted in the second dump - green candles - aka accumulation.
You can see that selling pressure diminishes. I think we are almost ready to pump again.

Please remmember that this is just an scenario. Do your own research. Humans make mistakes.

Greetings,
Vincent

Comment:

Breakout attempt 3
Comment: I'm seeing some rejection wicks. It's still possible to breakout now but there is also a possibility of a final detour. It's common in ascending triangles. If it would turn into a rejection something like this will probaly happen:



But for now.. lets see if it doesn't already breakout right now.
Comment: Looks rejected. No volme coming in yet.. Well probaly we have to wait a day again. Heading to bed now.. Will keep you guys posted on this trade

Comment: Morning everyone! Very nice you can see while I went to bed it decide to break out!
It's very common to atleast test our ascending triangle as support.

If im right, this should how and we should move up very soon.

Comment: And with 'how' I mean 'hold' ofcourse - Typo
Comment: We are doing a test of the Ascending Triangle as a support line now. If it is strong enough this should be the final pullback before moving to 10k. Lets hope it can hold.

Comment: 1HR. You can see it is coming up again. The wedge is strong. Heading to bed now, could still rumble around a bit but I think we're good again

The best TA how always
Reply
Nice little triangle forming on the 4hr also. Descending top and ascending bottom. BTC will have to break one way or another. I'm tipping up.
Reply
a symmetrical triangle on the 4hr MACD, it's on the fence, and there's no more room left

+2 Reply
Good Stuff Next pop I'm taking SOME profits!
+1 Reply
mrmeeseeks CryptoKyle03
@CryptoKyle03, Been thinking this myself too. Don't want to peel off long term gains too soon... but I mean double-triple value'd alt coins aren't bound to go up forever. Shouldn't be a piggy
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