BTC Megaphone Pattern SWING LONG

Although BTCUSD had some up and down momentum in May to June

it has been weak lately as noted by the excursions on the histogram

of the MACD indicator.

On the daily chart, I see Bitcoin in a slowly ascending megaphone

pattern. This means that the higher highs are on an ascending

resistance trendline as compared with the lower ascent of the

supportive trendline.

I see this as a positive for Bitcoin which may continue to

slowly trend upwards. As price is presently near the bottom

of the megaphone pattern sitting on the support trendline

with the MACD lines underneath the histogram of the indicator

and about to cross one another, I see an uptrend in the

immediate term. Accordingly, I consider this a long setup.



of higher lows.