PierG

Possible Double TOP formation or trend continuation

Short
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
137 views
2
If we want to see further movement at this point in time we should not cross the red trendline (1).
Even if we do its not a bad sign in the first place. A further breakout might just be delayed.
Staying between Blue and light-Blue for 5hours from now would be a great sign for a strong uptrend.
Dipping down to the orange line might be an early sign of a bull trap.
Staying between Blue and green would be a healthier consolidation, and would not reject the possible uptrend even though the red uptrend-line was broken.
Buy signal could be 3580 or something, with decent volume ofcourse , indicating a big demand for a very high price.
This becomes more unlikely the further we rally up without a pullback.
Consider that we came from 1800,within little time.
For long term 3.1xx$ marked by the fat black line might be an exit level.

Comments