BTC Long Term: Breakout by December past ATH

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.


+1 Reply
+1 Reply
pmishere Saeed966
@Saeed966 thank you!
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out