KQMarkets

Bitcoin - Neutral - Descending Triangle Pattern

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We still have a neutral view as we still see Bitcoin in descending triangle pattern and would want to see prices breakout of this pattern before establishing the next potential move. A break below the base of the triangle under $9413 would indicate further downside whilst a break above $11509 could lead to significant upside. However, on the upside we are encouraged that Bitcoin has stabilised over the past few days above the $10000 psychological level.

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