BTC still on the edge of consolidate triangle, loading time!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello, Dear all

BTC just drop to around the MA 120 last night, and consolidate currently, in some experts perspective, BTC is broken the uptrend line or bullish triangle, but from my pattern, you can see very clearly BTC is still inside the triangle.

My view is not change, BTC will have final decision in the end of Sep. and break the inside triangle with uptrend is expected in the beginning of Sep.

and I think MA 120 & 140 will be hold, loading more BTC around support MAs.

Trade active:
Bull trying hard to drag the BTC back above DMA120, only around 2 hours to close the day candle, if close price above DMA120, bulls will have a chance to breath.
Trade active: Seems DMA 120 is hold successfully, I'm more bullish about this scenario. if DMA120 is still hold in next few days, we will see BTC price surge soon.
Trade active: very good setup so far, it's time to break the inner downtrend triangle?
Trade active: Again, good call?
Trade active: Just as my plan, bitcoin meet huge resistance in the ~ 11000 level. and correction a few days, next step of my plan is retest ~11000, DMA 120. if it's hold, my confidence of next bull run in the Q4 will be increased.

Comment: Sorry, retest ~ 10000
Trade active: The path is still in play! bull need to hold above DMA120, retest upper triangle bound ~ 10600 again?

Trade active: Okay, just another good call!


Great analysis. My projections are similar. Thanks for sharing your expertise. The TV community thanks you. We go together!
God bless you
+1 Reply
ferGOD ferGOD
HuPan ferGOD
@ferGOD, thans for your sharing
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