BTCana

BITCOIN , ANTICIPATING ASCENDING TRIANGLE FORMATION

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Dear traders , I am anticipating an ascending triangle formation. If you have seen my previous posts anticipating formations may turn out right or wrong so take note that we should wait for the formation to be completed first.

This is my personal trading style as well , by anticipating formations I can possibly add more to my positions as prices are likely to be trading in the formations.

Traders should go long once the upwards break out has happened and as expected breaking the 600USD/BTC resistance. Note that premature breakout may happen , and throw backs are likely to happen as well which prices will trade closer to the top of the formation.

Once the 600USD/BTC resistance level has been broken it might be a new support level and we will see more increment in prices :)
Comment: Still holding my long , upwards breakout was more than expected :)
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