MrVolcano
Long

BTC potential intraday long

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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I think we're still in the middle of a retracement pattern on Bitcoin . Zooming in on the 1hr we can see what is most likely another ascending triangle pattern. These are typically continuations and therefore expecta break to the upside. A measured objective target of the previous move would take us to the top of the red trendline and would touch the fib 61.8% retracement level of the previous drop on 24 Feb. Fib 61.8's and ascending/descending triangles are becoming a bit of a favourite for bitcoin of late!

I can see price getting as high as 4.1k, hitting the 200 Weekly EMA which seems to be our resistance, the expect another move back down to the 200 Weekly MA.

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