pmishere

BTC Long Term: Breakout by December past ATH

Long
KRAKEN:XBTCAD   Bitcoin / Canadian Dollar
Fairly interesting to note that BTC / CAD has been trading within an ascending triangle . Given the slope at the base is at a fairly high angle, bulls seem to be succeeding over the bears.

This is typically a bullish sign and we do see a compression of volume as is associated with this consolidation pattern.

Needed for confirmation is an increase in volume over the month of December the break out past the resistance level . If there is no increase, there is a high likelihood that this trend will continue past the apex, given that the potency of a triangle dwindles if the pattern hasn’t broken out by 2/3 of the shape.

If successful, the price objective would land us past 87000.

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ThanksGoodJob
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Thanks
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pmishere Saeed966
@Saeed966 thank you!
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