ascending triangle in a bearish trend - very good reversal sign!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar

hey traders,

though I rarely post my thoughts concerning bitcoin ,
tonight I have a very good reason.

as bears pushed the market to 3200 on a daily chart we see heavily oversold rsi .

since December 2018, the price is coiling in a very significant reversal pattern - ascending triangle .
usually, in a strong bearish trend , this pattern leaves clues that the sentiment is changing on the market,
and bears are exhausted.

I will be waiting for a bullish violation of 4000 - resistance level that holds the market.

once this level is broken, it will trigger massive buying reaction from the market participants.

the first target should be a little bit below 5000.0 level,
and the second is around 6000.0.

Targets are based on structure!

good luck!

✅FREE Telegram (Text me for VIP private group)
✅Your personal trading coach. Contact me for one-on-one online trading sessions.
✅Broker that I trust
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out