Bitcoin price breakout of triangle/flag formation
The charts doesn't look good for bears, market just recently broke out of the triangle on the 4 hour bar. More confirmation is needed, a higher high or a daily close is bullish. While I am long, I keep my technical analysis objective. We broke out of a downward trendline, while it is not bullish yet, short term downtrend in price is likely to be over. We may chop some more here before grinding higher.
I post real time trade entry and exits, and daily Bitcoin analysis. Statistical and technical analysis are my specialty.
Follow me on my bitcoin trading blog and twitter: ibankbitcoins.com, twitter.com/ibankbitcoins
My bitcoin trading performance: ibankbitcoins.com/bitcoin-trade-performance
Bitcoin trading and reference guide: ibankbitcoins.com/btc/bitcoin-trading-guide
I post real time trade entry and exits, and daily Bitcoin analysis. Statistical and technical analysis are my specialty.
Follow me on my bitcoin trading blog and twitter: ibankbitcoins.com, twitter.com/ibankbitcoins
My bitcoin trading performance: ibankbitcoins.com/bitcoin-trade-performance
Bitcoin trading and reference guide: ibankbitcoins.com/btc/bitcoin-trading-guide
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