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Dontshortyet

Bitcoin is ramping up for a huge breakout! Bitcoin in the recent days and weeks has formed a Ascending triangle.This has been after the recent double bottom we say a few days ago. This is bullish because Bitcoin has maintained its upwards trend. Bitcoin will likely find the top of the triangle as immediate resistance. Get ready guys because The target for this breakout is about 11.6k which gives a nice risk to reward ratio. The volume has been declining as evident by the volume indicator. This is significant because when volume decreases, it means that there will soon be a breakout with massive volume spikes relative to the rest. Bitcoin has held it's macro upwards trend by closing above the daily EMA Ribbon. As indicated by previous moves, when Bitcoin closes below the EMA ribbon, it usually indicates the ending of the daily trend. Remember guys " The trend is your friend to the end". Shorting before Bitcoin breaks out of this zone maybe detrimental because the trend is still intact. If Bitcoin breaks out of the ascending triangle, then the next biggest resistance is the 10.6-10.8k level . Keeping in mind that there is a CME gap at 11.8k, it makes it more likely that Bitcoin will come up to fill this level since most CME gaps in the daily time frame get filled. For more tutorials you can go to https:cryptoatlas.net ! Good luck guys!
BITSTAMP:BTCUSD
by JayT121
3
Bull still not giving up.....Make no mistake, we're still in a multi-month Bearish correction...But it feels good to be Bullish, and making $$ on that side of the trade. And so far, Bulls are looking pretty good, even if they didn't give me the 7080 fill I was after :( A) Is our current structure bottom. We've seen this slow n steady Bullish grind coming out of 6.4k, playing this Gann Fan's levels nearly perfect. B) We bounce hard off the 8/1 (Generally a Last Stand level) , we ground our way up the underside of the 4/1, broke through in parabolic fashion, tapping the bottom of the 3/1 and stalling. Where we now find ourselves. We'll want to see Bulls hold the 4/1 from the Top to remain hopeful of higher levels... C) Which brings us to these two levels. The orange Weekly Chuva upper line. And the Macro Bearish 8/1 coming down, in dark green. I look for both these levels to be VERY heavy, and likely reversal zones. But should the Bulls manage to consolidate in/near these levels, without being rekt when we touch em....We could be in the beginnings of a renewed Bull Run.....Could......If........Maybe...... BIG Ifs and Maybes...... One level at a time. Let's hold the 4/1, and look to buy dips. 3/1, Macro 8/1 and Chuva are likely TPs/Reversal zones. As always, stay safe, practice solid risk management, and have fun.
COINBASE:BTCUSDLong
by mrjones2020
2