Bitbloxx
Long

BTC - Medium Term Setup

BINANCE:BTCUSDT   Bitcoin / TetherUS
We are looking at an interesting triangular formation in BTCUSDT (DAILY) with support line validating back to May '19.
Below are some interesting observations that we'd like to share with our followers:

- Dual support coming in from 100EMA (Daily) and a validated up-trending line.
- Price consolidating in the Triangle means BTC could possibly be targeting ~14,500 - ~ 15,000 range - but we are yet to see a breakout in this case.
- Emergence of a tentative positive divergence between RSI and Price on 240m chart

Considering the mentioned factors, we believe traders can capitalize on the triangle formation, as long as the range is not too narrow. Breakout buyers can wait for a proper confirmation before going long.
Exact levels on the chart.

*This trade is live for Ritoku followers*
Comment: Support held so far. Hoping for the best :)
Comment: We are up ~10% from support zone. Day close above $11,000 is likely to clear the path towards $11,600. Happy trading!
Comment: We advise trailing the stop for half of the position slightly below 10349.
Comment: Position that was trail-stopped in profit (10,349) can now be rebought as BTC trades in the support zone. Closing based stop below 100ema (Daily)
Feel free to get in touch with us:
Twitter: https://bit.ly/2o9ItrA
Youtube: https://bit.ly/2Nh8sbE
Tradingview: https://bit.ly/2PCbed1
Ritoku Trading System by Bitbloxx (Discord): https://bit.ly/2yNFxpX

Happy Trading!
Team Bitbloxx
buy buy BTC Target 12xxx
Reply
Nice chart!

Please take a look and support our thoughts also!

+1 Reply
Why is your bottom trendline starting from May lows and not April lows?
+1 Reply
Bitbloxx lavonmilner
@lavonmilner, Because that is where we see the trend. We'd love to see your chart as well :)
Reply
lavonmilner Bitbloxx
@Bitbloxx, Please go to my page I recently published a chart! Love to hear your feedback!
Reply
Bitbloxx lavonmilner
@lavonmilner, Sure :)
Reply
*clickbait
Reply
I to think this is a good time to buy especially if price falls bellow green support line. Check out my analysis and let me know what you think.

+1 Reply
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