BitcoinLong
Bitcoin [BTC] Ascending triangle or Broadening Top
Here's my trading plan!
See the ascending triangle pattern trying to break-out of $10,000? Well, if that breaks I'd be short term bullish till $10,500. If that breaks and confirms too, I'd be basically bullish.
However, if it reverses from $10,500 and goes on to test $9500, I'd be looking for a broadening top formation which is long-term bearish but will look to run a $11,000 top.
Invalidation of $9450 (the ascending triangle will call the end for me).
The bullish bias is stronger as it seems like the long-term bearish trend-line on the log scale has been broken again.
See the ascending triangle pattern trying to break-out of $10,000? Well, if that breaks I'd be short term bullish till $10,500. If that breaks and confirms too, I'd be basically bullish.
However, if it reverses from $10,500 and goes on to test $9500, I'd be looking for a broadening top formation which is long-term bearish but will look to run a $11,000 top.
Invalidation of $9450 (the ascending triangle will call the end for me).
The bullish bias is stronger as it seems like the long-term bearish trend-line on the log scale has been broken again.
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