The_Altcoin_Trade

Bitcoin Holding the Triangle

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Quick Update

Bull Scenario
- Daily Higher Low holds@ $6450,
- Bulls need to stays above $6500 and push through resistance @$6840-50.
- This ascending triangle plays out :D


Bear Scenario
- Selling pressure increases and $6450 breaks.
- Possibility of touching the low $6k is higher and then we'd have to zoom out to the Weekly to determine higher low.


Notes
- Volatility is at it's lowest.
- Support on the Daily is $6450.
- Bulls haven't given up yet and have been buying the dips.
- RSI and MACD are neutral.

Best Course of Action
- Stay on the sidelines and wait for a break in either direction and play the bounce.
Oct 03
Comment: That double bottom!!!
Entered into a long position with BTC and ETH.

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