The chips are still lining up for a breakout but with BTC anything goes. I don't like but when 3+ points are made you can't help but to draw some. You can call the overall pattern a , numerous triangles which the current picture is displaying with the Symmetric and Ascending, but let's take it to the basics:
We are looking at a trend of Higher Highs and Higher Lows, Until the price dictates otherwise this trader is long, the still has room and the is a coil ready to burst one way or another. The Moving Averages on the chart are turning up and once the Yellow Line Horizontal Resistance is cleared looking for new highs at the next resistance near $400-450.
All this gets negated if new lows come about under the 200 around $365.
See Detailed Article here: http://cointelegraph.com/news/112760/bitcoin-analysis-week-of-oct-19-intro-to-macd
Good Luck Traders
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