Get started
aboveandphom

Bitcoin Daily Dose 3/17/19 | Don't get too excited yet

Bitcoin (BITFINEX:BTCUSD)  
aboveandphom Updated   
BITFINEX:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Technical Indicators Cryptocurrency crypto blockchain Bitcoin (Cryptocurrency) Ethereum (Cryptocurrency) BTC ETH ripple xrp
6
0
trendanalysis chartpattern indicator cryptocurrency crypto blockchain bitcoin ethereum btc eth ripple xrp
Because Bitcoin failed to break out of this micro triangle that I’ve highlighted in my chart we could still be in for more range until the apex of this micro triangle ends on April 8th. If you were able to catch the move at $3939 then you should have taken profit already, in my opinion. The reason for this was because of this micro triangle and I had written that $4075 was a safe place to take profit for about 3%. If you aren’t in a Bitcoin trade right now I would not suggest getting in right now. In the scenario that Bitcoin decides to break out of this triangle I am still reluctant on it breaking the macro triangle so a short between $4200-$4250 would be ideal still. There is now bearish divergence on the 15m candles so I am confident Bitcoin should go through some retracement within the next 24 hours.
Comment:
The date should say 3/27/19 not 3/17. Apologies for that.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.