TradingClue

BTCUSD 1H Triangle breakout

BITSTAMP:BTCUSD   Bitcoin
A triangle is forming on the BTCUSD 1H chart. As shown in the chart, there were 3 divergences with trendline-breaks, the short-term trend reversed each time.
In the next few hours price could break out of this triangles by crossing one of the blue lines.
If there is a break out to the downside, price could go down to the latest support at around 811 or even lower to S1 at around 769.
If price breaks to the upside, it could cross the EMA200 and touch the pivot point at 954.
Maybe this would be a good opportunity to hedge, using tight stop losses.

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