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The_Yeager
Aug 30, 2019 3:23 AM

BTC long scenario  Long

Bitcoin / U.S. dollarBitstamp

Description

BTC price is nearing the 200 day moving average (light blue line). Price is also bouncing off the resistance(dark blue descending line) creating a triangle which will intersect in the next several days.

If price continues along current support until it nears 200MA. This could initiate a break out. I would predict that the break out would be upwards because a price continuation at the current support, for that many days would be a bullish sign.

Comments
SweeetCorn
Nice. Simple and clean analysis.
Bullandbeartrading
I like your great SUPP area.
Migueldiz
i hope, 9800 today?
The_Yeager
@Tiago333, mmm.. 9800 doesn't make sense right now. To many people are expecting dip towards 9100 so no one is going to buy BTC for more than 9600-ish. A dip to 9200/9000, then maybe I would consider 9800 a target. A dip to 8700, then definitely.
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