YoCrypto

$BTCUSD - Big Symmetrical triangle formation on 3D timeframe

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello Everyone, Hope you are doing well and holding up good after the historic market crash we saw recently. This day will be remembered in Bitcoin / Cryptocurrency history for a very very long time.

Now let us get back to the analysis and see what 3D timeframe is throwing at us. If you look at the trendline support created since Mar'17, and if you look at the 10th March'2020 candle it has hit the trendline support beautifully and similarly 13th March'2020 candle as well is respecting it beautifully.

Now, will this trendline support hold or will it break? More so, there is a big symmetrical triangle that has been formed and can be seen clearly in the charts. Will we break upwards or downwards is hard to say, for now.

The biggest support that is WMA200 @ ~5500$ (which BTC broke last week) is now acting as a major resistance. A weekly close above this resistance level will give us some comfort that we shall now head upwards.

Please press LIKE button if you agree with the analysis and do follow us. Thanks for all the support.

Yo Crypto
Comment: Wow...This looks amazing. The symmetrical triangle is beautifully formed and respected.

Comments

Very good visit my profile too.
+1 Reply
YoCrypto DaweFXHunter
@DaweFXHunter, Thanks
Reply
9200, 95 % of all short will be liquidated.
+1 Reply
YoCrypto Edward_Bowler
@Edward_Bowler, Anything can happen mate
Reply
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