COINBASE:BTCUSD   Bitcoin / U.S. Dollar
At previous analysis we success hit bottom price at symetrical triangle support, and now bitcoin             success break up bullish confirmation level.
this is very good news for bullish .
In this chart, we will discuss long term analysis and short term analysis.

You can see that we have triangle pattern here, and we also have support zone at $5800 to $5880.
This area will be a strong support in case symetrical triangle failed.

for next resistance we have triangle resistance, around fibonacci 0.09 at $7050,
if this resistance break up, a good bullish wave will perform with $11150 target at symetrical triangle resistance and this level also as fibonacci 0.382.

To follow bullish movement, we have short term analysis,
you can check here :


note : to understand better about this analysis, check our daily video analysis
Trade active: this analysis closed, we have new update ^_^
BTCUSD sept 18 : https://www.youtube.com/watch?v=e5EF9slXcSU
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+1 Reply
Hi Dian, thank you for the analysis.

I think i'd agree, Bitcoin it's poised to move higher.

Sure we may have another leg down, but judging by the setup and historical picture on OBV a reversal is nearing.



+2 Reply
@ft-73, Very interesting analysis, good job
Reply
keep smokin that green
+1 Reply
I would expect one more leg down before the big pump to 11k Its looking pretty weak right now.

+1 Reply
rekt
+1 Reply
Too much negative in the market to suggest BTC going to 11K. Coincident that recent BTC bounced off support when USD dropped when article of trade talk meeting might happen between China and US? Once tariff of 200B are enacted on China because of failed trade talk, USD will rise and crypto as well as other markets will fall since crypto has been falling all 2018 while the dollar is rising. Even crisis in Turkey and Venezuela didnt help BTC price. Coupled with a rejection or delayed or upcoming ETF will put BTC in the 3K-5K range.
+1 Reply
rev214us patrickstar466
@patrickstar466, I have also noticed that Bitcoin drops while the U.S. dollar rises. I find it interesting and suspicious to say the least.
+1 Reply
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