EXCAVO

Bitcoin - Global Triangle

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
1. Downtrend channel (Red)
2. Uptrend channel (Blue)
3. These two channels formed a triangle
4. The price is near the top line of the triangle and is trying to break up during May (for the third time, before that it happened = July 2019 and February 2020).
6. On the volume profile , the gap is clearly visible in the zone of 4000-6000.

If Bitcoin can fix above the triangle, this will become a very strong buy signal with a growth potential to the average upward channel (13000-14000). This zone will be the beginning of a new bullish trend and update ATH (peak 19k).
Comment: Best regards EXCAVO
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Comments

Just for the sake of completeness, you forgot to write:
"However, if Bitcoin can't close above the triangle, it becomes a very strong sell-signal with a potential drop to the average downward-channel (4500-4600). This zone will be the continuation of a bearish trend that started in December 2017."
+3 Reply
EXCAVO ReallyMe
@ReallyMe, Exactly
+1 Reply
kenshintani ReallyMe
@ReallyMe well said.
+1 Reply
ReallyMe kenshintani
@kenshintani, arigatou gozaimasu.
Reply
Back then I was thinking this would look like a hype cycle..
+2 Reply
Keep digging. there be gold en them there hills
+2 Reply
Would love to see the breakout for sure, here is what we have for BTC
+2 Reply
there is no uptrend untill we close above weekly above that long term resistance and make it support, then we are definitely ready for a good ride
+2 Reply
my last idea going exactly so here is my new idea
+2 Reply
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