Long

Bitcoin triangle breakout? Time to LONG again?

Updated

Is Bitcoin setting for breakout of huge triangle and parallel channel?
Only time will tell. I am already on long and I will add to my position if the price stays above ±33000USD.

On 1H we can see price went back to the edge of triangle which is also top of parallel channel where was bitcoin for some time.
So many position got shorted. Institutions buying record amounts of crypto, loads of fud.
All indicators telling me to go long again - only waiting for daily candle close but move of BTC could be so fast and price can get too far so I watch more lower frames up to 8h.

Expect resistance around 34560. Get some profits out of table on the way up and move SL to BE.

I'm in long now.

If you find this useful then give like to this post and comment. Thanks!

Good luck!
M

This is not any financial advise, always check the market before entering any position.

Note

We are again on the top of the channel. Why is it this time different and we will not go down?

As you see in last days we got bounce from EMA50 on daily and we will get probably printed cross on MACD for long.

Trade active

If you give like to post I will share next moves.

Riding this one from 32630$ and cannot loose on this position. Part of profit taken away and added to long on 37150$ and 36210$.

I expect move down to support 34400$-34880$.
As I entered on the bottom I can close some profit now and rebuy on the next support.

Good luck and don't be greedy. If you can get some profit and move SL to BE.

Bye!
Muza

Muzaaa

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