Looks like we can open the bullish case.
- Triangle formation has broken to the upper side
- Re-Test of the triangle on the upside on Friday
- Price above still above the 50 SMA
- Short-term MAs are bullish aligned (17 EMA > 30 SMA > 50 SMA)
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Unfortunately, the triangle didn't work. I've adjusted the shape now and see what we've got: A rising channel. But this could be considered also as a bearish flag. However from the current position it seems to be more likely that BTC is doing a bounce to the upside. But it's questionable if BTC can leave the channel ...
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Looks like tomorrow we can see a pump in BTC - or a dump. ;)
I'm expecting rather a pump, but could also be wrong ...
I'm expecting rather a pump, but could also be wrong ...
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Yesterday's assumption was wrong - it went south. But I've re-drawn the channel now because it has confirmed some significant points on the chart. The upward channel seems to be nevertheless still valid. Waiting for a bounce to the upside of this channel:
