BTC, The Road Back to $20K?
Triangles, inside of triangles.
Macro - Descending Triangle = Bullish.
Micro - Ascending Triangle = Bearish.
I believe if we are able to break the upper trend-line, it will be EXTREMELY bullish.
Currently we are trapped inside of an ascending triangle, of which a bounce off of our lower support is still possible.
If we are able to bounce off of the 5800~6000 level and break the upper trend-line, we may be in for the ride of our lives.
If we drop below the lower support, then the bearishness continues.
For now, I am sitting on the sidelines. With how narrow the trend has become, we are looking for a serious break sometime in the very near future.
Good luck everyone and happy trading!
-Achilles
Macro - Descending Triangle = Bullish.
Micro - Ascending Triangle = Bearish.
I believe if we are able to break the upper trend-line, it will be EXTREMELY bullish.
Currently we are trapped inside of an ascending triangle, of which a bounce off of our lower support is still possible.
If we are able to bounce off of the 5800~6000 level and break the upper trend-line, we may be in for the ride of our lives.
If we drop below the lower support, then the bearishness continues.
For now, I am sitting on the sidelines. With how narrow the trend has become, we are looking for a serious break sometime in the very near future.
Good luck everyone and happy trading!
-Achilles
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.