JordonH

Bitcoin Breakout Began Yesterday

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoins breakout of ascending triangle began yesterday

Break of the daily descending triangle which had been forming from ATH for weeks has now broken with the potential to reach a 30% upside

When looking at the candle count your position should have begun yesterday on candle 2's momentum above candlestick 1
However we can see your stop loss may have been triggered due to current candle 3 hanging and retesting of support/resistance of 33500 area

I expect the breakout to continue on the daily scale to an upward move of the next 6-7 days concluding near the new target of 37k which will be BTC new ATH . This will reassure the market is still bullish as BTC will look to break its next resistance seen on the chart around 37300

Current candle count is day 3 of 9

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