A triangle is a well known pattern. More often than not it is a continuation pattern which would seem logical in this case. Falling volume while nearing the apex confirms.
Fundamentals would also justify a bullish position, turmoil on the currency markets isn't over yet (look at Brazilian Real for example) and leads people towards Bitcoin.
This chart presents trend signals for 8 Bitcoin exchanges, using the daily chart.
If price were to move to the entries on chart before the daily close, it'll be a very high probability trade, considering the recent failure to move up, more than once, and the increased volume present on the profile distribution.
Good luck if taking any of these trades, and remember...
Bitcoin shows some signs of weakness with a price on a resistance level with confluences.
Indeed SMA(200) and a pinbar for bearish momentum created for us a SHORT trade opportunity.
Weekend is coming, stay tuned for tonight close and monday opening.
Price may retrace previous pinbar and retest SMA(200) that's why I decided to set the stop loss right over the...
