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Long

Bitcoin Bullish Breakout Incoming

BINANCE:BTCUSDT   Bitcoin / TetherUS
In the chart above, you'll see that every time BTC closed above a long daily trendline and had a successful retest, it almost always has gone up. As you can see, the retest appears to be successful and up is the next step.

The next local obstacle seems to be the 30 day moving average which BTC is currently above. If the price is able to close the day above the 30 day moving average, then the next target should become ~7,400.

As far as hodling is concerned, be mindful that there is a huge supply of ~160,000 from the Mt. Gox hack that will be delivered to the victims of that hack before February 14th, 2019. When the supply increases, I anticipate a sharp sell off. Stop losses are important.
Sep 29
Comment: Here's an update of what I'm seeing. Still has 1 more trendline to break through to the upside before it can fly. It has 4 bottom support trendlines to 6120. If all 4 of those break, that's bad. The path of least resistance is up imo

Dec 26
Trade closed: target reached: Took profit on the short squeeze around $7,200. Entered long again at 3,150.
Please follow if you value brief itemized technical analysis.
Agree with you. Also want to share this masterpiece
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