BillCharison
Long

$BTC - Triangle Was Finally Broken!

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
As we wrote in the previous update: "However, it is very important to understand, that in case of the triangle breakout, the whole bearish scenario will be cancelled.". Now the price takes hold above the $8565 level which means that the price is currently staying above the horizontal channel upper border.

Moreover, there is a convergence on RSI - bullish sign as well. Targets for upward movement can be noticed on the Fib. Retracement, $8800 - $8870 - $8965. We still hold our LONG position since $8200.

By the way, if the price come back inside the channel (below the $8500),then we should expect a downward correction to the $8245 level, at least. So, if you don't hold any position, now you know where to put SL :)
Comment:
literally a few minutes ago there was activated a new support level, it is located at the $8430 point. This support can help bulls to keep the price from falling, in case the level $8565 will be broken.
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Nice overview.
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ZoroCapital ZoroCapital
The future of the crypto world
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idea which worked just like we predicted, any thoughts?
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A nice clean chart @BillCharison ... looking for a lot more upside here
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Thank you for sharing your fine analysis Sir.

I think we can see a pullback from the latest impulse, without hurting the new upward trend.

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You mean "put buy orders"?
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