InvestingScope

BTCUSD: Bullish signal on repeated Triangle.

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Following the support it found just below 3,700, Bitcoin managed to rebound to 4,100 but failed to sustain a stronger bullish momentum falling into consolidation within a 4H Triangle ( RSI = 52.245, STOCH = 47.818, Highs/Lows = 0.0000). As shown on the chart, that pattern has already appeared in early December and resulted into roughly a -11% decline before the eventual strong bullish sequence that led to 4,384. A similar candle sequence is expected, targeting 4,384 and 4,463.10 in extension.




** If you like our free content follow our profile (https://www.tradingview.com/u/InvestingS...) to get more daily ideas. **

Comments and likes are greatly appreciated.
High quality portfolio management, asset allocation with excellent risk management. Grow your account, achieve steady profit levels and increase your trading edge with InvestingScope (http://www.investingscope.com).

Comments

@WBM_Team, This will it will most likely be a long consolidation during the first 4 - 6 months. The 20k levels is achievable but most likely in 2020.
Reply
I love this analysis and it confirms the drop we are looking at too. We are shorting right now looking for a touch of the support. Great TA!
Reply
NICE chart; head and shoulder?
Reply
Bitcoin broke a triangle and a wedge , why is there no growth? What if a downward wedge is just being formed?

P.S. I accept thanks with likes and comments to the idea!
Reply
I'm feelin' it!

Reply
@nerdy007, Consolidating for the next bullish leg on 4H.
Reply
BTCUSD H1 C UP. Checkout the idea detail's and update's for the complete picture!

Reply
@Boon2, Thanks for sharing boon.
Reply
Boon2 InvestingScope
@InvestingScope, Similar idea's, lets see if it plays nicely
Reply