Rashad
Long

Bullish symmetrical triangle formed on BTCUSD. Over 400 soon!

BITSTAMP:BTCUSD   Bitcoin / Dollar
136 2 1
-After the head and shoulders pattern formed, a bullish symmetrical triangle formed. Look for a break out over 400 soon.
-Breakout at resistance line in downward channel
-Divergence between 10 Hour EMA and 21 Hour EMA shrinking
-Stochastic trending into oversold region. If a buy signal occurs in this region and %K and %D move back over 20, there will be strong uptrend again. If a buy signal occurs just above, you can still expect more uptrend.
-CCI Bullish signal cross. As well, CCI is trending Bullish . Suggests coming bullish conditions.

For these reasons I believe we could see a move back over 400 soon. Wait for stochastic buy signal. Wait for EMA Cross. CCI suggest coming bullish conditions. This makes sense considering a bullish pattern has formed.

Related Ideas

Rashad
2 years ago
BTC just went over 400. Maybe this will new uptrend will happen faster than I thought.
Reply
Rashad Rashad
2 years ago
Yup, it did happen faster than I thought. Should've drawn my projection a little shorter term. I hope you all are enjoying the ride up!
Reply
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