JoshMcGruff

HA looking healthy, possible 10/20 EMA

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
$BTC with its latest little run has turned the Heikin-Ashi daily green with no shadow after a spinning top .

With the two touches of the unconfirmed trend-line (need 3 to confirm) we could be looking at an ascending triangle forming.

If the 10/20 EMA crosses Bullish , we may have a nice run ahead of us. Last time BTC had a 10/20 EMA cross, it rallied over 40%

BTC attempted to complete a 10/20 cross on approximately 07/07/18 but was rejected.

Personally, I am neutral at this time, but optimistic that we may move sideways an accumulate in this triangle before possibly breaking out and reversing around the end of July / Beginning of August.
Comment:
Checking the 4 Hour, we're due for a cool off and overbought. This cooloff could bring us down to touch the bottom of the possible ascending triangle and confirm the pattern. I will be watching to see if it does that.

If we form an ascending triangle. I will become less neutral and more bullish for $BTC.

Comments

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