In my last post about BTC I showed a triangle that was playing out. That triangle may have been drawn too hastily and it broke down. However, I did post updates of the bullish divergences racking up and the lack of velocity to the downside prompting me to believe it was in fact going higher.
Classic ascending triangle has been formed, BTC has broken out of said triangle and is now finding support on top of it. Providing it does not breakdown under the topside of this ascending triangle *AND HOLD* (beware of a bear trap). This would be the rough target area. Taking the height of the triangle and placing it on top. Also adding in the areas of recent support/resistance in the area.
Classic ascending triangle has been formed, BTC has broken out of said triangle and is now finding support on top of it. Providing it does not breakdown under the topside of this ascending triangle *AND HOLD* (beware of a bear trap). This would be the rough target area. Taking the height of the triangle and placing it on top. Also adding in the areas of recent support/resistance in the area.
Comment:
Target Hit! Took a little longer than expected.
