xrowfm
Long

Short-term dip in BTCUSD as entry for long term bullish play

COINBASE:BTCUSD   Bitcoin / Dollar
As BTCUSD             broke below SMA50 on daily bars, I expect it to gain downward momentum and cover a majority of the distance that leads to EMA200. Some minor upward momentum is possible to hit the upper triangle line resistance, but I would expect a return to triangle support and an eventual break down that will offer a fresh opportunity to buy. A short-term target entry point to buy is located around 11,090 circa February 7/8th, but price action might allow for a lower and sooner entry. That entry should prove useful for a long term position (weeks/months) leading to fresh new highs above 20K.
as long as its staying in the wedge, i am going to think we're ok. if it breaks out of that, well......
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