TradingView
Rexcell
May 18, 2018 12:28 AM

BTC ascending triangle on 200MA  Long

Bitcoin / DollarBitfinex

Description


As you can see the yellow circles are nudging the 200MA which is acting as resistance. Each rejection though is dipping less and less - forming an ascending triangle on the 200 MA.

Watch for the pink circle which is strong resistance - doubly for the 10k psychological plus the 200 MA. When it breaks 11k won't even get a look in as we fomo straight to 12K where I see next resistance.

Market is bearish now - but see my falling wedge chart idea just posted on smaller TF. I'm long but as always be safe and consider all possibilities with appropriate stops.

Good luck! :)
More