Long
Bitcoin: Opportunity for Bullish breakout of triangle
Dear traders,
BTCCNY is currently printing a 4h reversal candle on Heiken-Ashi candles after consolidating above 50% of the triangle width. With an oversold Stochastic and narrowing Bollinger bands, there is an opportunity to begin buying in for a long position, averaging up as necessary if the triangle breaks to the upside. Upside target will be 2200 yuan for first resistance level, then retest of 2500 yuan.
BTCCNY is currently printing a 4h reversal candle on Heiken-Ashi candles after consolidating above 50% of the triangle width. With an oversold Stochastic and narrowing Bollinger bands, there is an opportunity to begin buying in for a long position, averaging up as necessary if the triangle breaks to the upside. Upside target will be 2200 yuan for first resistance level, then retest of 2500 yuan.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.