BTC/USD - Big Movement Ahead
Updated
The NOV/17 bull run has bounced from the Fib 0.618 key retracement level and now follows a sidway trend within a triangle pattern. The current Support Line proves significant strenght as it already rejected the sellers for a total of four times, which prevented any further drop.
We can expect the price level to bounce from this strong Support Line and to stay within the triangle pattern. The end of this pattern will require the market to make decision. A bearish scenario could cause a drop to the long term Support Line (9.000 USD) whereas a bullish breakout that is supportet by a possible MACD Cross is going to signal a continuation of the bull run.
BASIC, PLAIN and SIMPLE.
Liked this technical analysis? Follow me for more free technical analysis and high-quality content.
Telegram: t.me/@hodlgang_germany
Twitter: twitter.com/wesker_crypto
Steemit: steemit.com/@wesker
We can expect the price level to bounce from this strong Support Line and to stay within the triangle pattern. The end of this pattern will require the market to make decision. A bearish scenario could cause a drop to the long term Support Line (9.000 USD) whereas a bullish breakout that is supportet by a possible MACD Cross is going to signal a continuation of the bull run.
BASIC, PLAIN and SIMPLE.
Liked this technical analysis? Follow me for more free technical analysis and high-quality content.
Telegram: t.me/@hodlgang_germany
Twitter: twitter.com/wesker_crypto
Steemit: steemit.com/@wesker
Note
Feel free to join my public Telegram group for trading advise, market analysis and open discussion: t.me/hodlgang_germany
@hodlgang_germany
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.