GO/BTC is in a BIG BULLISH TRIANGLE! Over 90% Gains!
Patience is Key!
Enter aggressive now at bottom of triangle, or enter breakout, or enter retest..
Lots of support for every risk tolerance..
Trade safe my friends...
-The bearish H&S pattern is confirmed after the breakdown of neckline
-If the downtrend will continue, the next key support is somewhere 80-72 sat
-Buyers are looking at this zone for potential strong bounce reaction
-This will likely give an over 20% relief rally in short term
-I suggest to enable your Alerts if incase the price reached that level
There is not much to say about the GOBTC chart.. We can say that there is a tightness in RSI and price, after a while it seems possible to observe a hard movement in GOBTC.. The #GOBTC is priced very close to the ma50, I think the ma50 will be the leading indicator in terms of price movements and should be watched very carefully..
Disclaimer: What I wrote is...
Just like the retrace of the previous uptrend, GO seems to be forming a falling wedge with declining volume.
GO could drop another 10% (to 203 area where the .618 fibonnaci is) in the next 5 days to make the last macro higher before trending backup, which is started with an explosive move back to 275.