BTC/USD - Consolidating in an ascending triangle - Bull to 9000?
Updated
Are Bull still in charge of this Bitcoin phase?
The chart pattern that is developing suggests a Bullish bias.
After a short correction/consolidation we have stabilized in the low 8000 area. This is a good sign that there is more to come in the near term for a BTC rally.
1. PPO still neutral/bearish
2. Volume is decreasing confirming the pattern
3. Stoch is in the oversold area
4. RSI has broken the bearish trend
4. MACD is about to turn bullish?
5. CCI bounced bullish
Indicators show mixed signals however the bias is bullish. We will have clearer indications in the following hours.
Recently we have seen rallies starting on sunday/monday. We could reach a pattern breakout within a couple of days.
Initial short term targets are at +8.5% and - 5.5%.
Trade safe.
The chart pattern that is developing suggests a Bullish bias.
After a short correction/consolidation we have stabilized in the low 8000 area. This is a good sign that there is more to come in the near term for a BTC rally.
1. PPO still neutral/bearish
2. Volume is decreasing confirming the pattern
3. Stoch is in the oversold area
4. RSI has broken the bearish trend
4. MACD is about to turn bullish?
5. CCI bounced bullish
Indicators show mixed signals however the bias is bullish. We will have clearer indications in the following hours.
Recently we have seen rallies starting on sunday/monday. We could reach a pattern breakout within a couple of days.
Initial short term targets are at +8.5% and - 5.5%.
Trade safe.
Trade active
Broke the triangle upwards. Wait for a close outside the pattern with strong volume before adding.Trade closed: target reached
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