alexcrypto

$BTCUSD - Consolidation nearing an end,is the bull coming back?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin had a healthy consolidation as expected from my longer term analysis (see link to related idea below).

Bullish bias still in play with strong fundamentals.

A symmetrical triangle pattern has developed and we are shortly due to a breakout.

Indicators are neutral to slightly bullish so the real direction could be seen only at breakout time when confirmed by volume .

Short Term targets have 3 Take profit points as per the chart.

If we break downwards TP points are at 13000 dollars and 12000 dollars where we have the strongest short term resistance.

Long term view trades suggest a bullish bounce to 30,000 dollars, for more information about longer term scenarios look at the related idea below.

Trade Safe.
Trade active
Trade closed: target reached: Taking profit 2
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