Tompouce
Long

BTCUSD - CME Future Ends --> Watch for break of the Triangle

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This idea is a follow-up of the previous one
After bouncing this morning on the bottom of the triangle, BTC             will now test the top of it.
BTC             just passed through the FIB resistance and with the end of CME future contract the strength in BTC             may be enough to break this triangle up!
If we break up first stop will be 12k and then 12.7k Fib resistance.

Let's watch for the break of this triangle. If it break, It would be a good moment to add BTC             to your holdings.
Comment:
BTC touched the top of the triangle during the night as expected but was not able to break through it.
We are now back near the FIB level at 11k. We may have another test of the bottom of the triangle in order to gather some strength.
Next three days will be crucial for BTC.
Comment:
Here is the current situation on BTC.
The previous triangle broke upward and hit the 12k resistance as stated in the beginning of my idea. BTC is now at another Fib resistance at 11.7k.
Due to the weekend, BTC lacked some strength to break the 12k resistance so we may have some sideways or downward movements (to the 11k fib support or to the purple line) in the next hours/days.
Moreover BTC seems to have formed a new intermediate triangle.
So watch this triangle closely.
Comment:
As expected, BTC went down to the 11k Fib support. From here we have two possible scenarii : go lower to the purple line to gather more strength of try to retest the 11.7k Fib resistance.
Personnaly I think BTC will try another time to break 11.7k

Like and follow the idea for updates
do any body know why is the big jump in futures btc/usd shorts from 8000 to 18000 what is going on
Reply
Tompouce obeido7
@obeido7, hi there. Do you have any graph about this because on BTC1 and BTC2 futures from CME on tradingview I don't see any big jumps.
Reply
mvc64200 obeido7
@obeido7, What are you talking about? explain ???
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