Bitcoin on an intraday basis appears to be forming an ascending triangle.
Two possibilities for a move to the upside.
1. Enter on support of triangle around $ 15 k , stop below 2.
or
2. Enter on support of break of triangle to upside around $ 16K , stop below 200 MAV.
Target is fib extension to around $ 23k .
Risk Reward is 4... :)
Note - a break of the triangle and 200 MAV would be eyeing target around $ 10 K....
Two possibilities for a move to the upside.
1. Enter on support of triangle around $ 15 k , stop below 2.
or
2. Enter on support of break of triangle to upside around $ 16K , stop below 200 MAV.
Target is fib extension to around $ 23k .
Risk Reward is 4... :)
Note - a break of the triangle and 200 MAV would be eyeing target around $ 10 K....