A clear picture of the magic triangle. Bitcoin!
Hi my friends! Just a quick update on my previous post. Here you can clearly see the moving space within the triangle before the next breakdown.
The actual pattern is very similar to the previous bigger triangle occurring between the 6th and 30th of january. This smaller triangle will last just a few days.
Considering also other indicators we can expect to see it moving upside the 50 MA in the next few hours and reach the the range 8600-8800 . Remeber this is the fibonacci 0.786 level and and a second resistance level described by MagicPoopCannon. I've linked his post below :) This is also the maximum price we can reach for the next few days. In any case if interested in some short trading it looks price will keep moving across the MA till approximately the 12th-14th of february.
Trade safe!
The actual pattern is very similar to the previous bigger triangle occurring between the 6th and 30th of january. This smaller triangle will last just a few days.
Considering also other indicators we can expect to see it moving upside the 50 MA in the next few hours and reach the the range 8600-8800 . Remeber this is the fibonacci 0.786 level and and a second resistance level described by MagicPoopCannon. I've linked his post below :) This is also the maximum price we can reach for the next few days. In any case if interested in some short trading it looks price will keep moving across the MA till approximately the 12th-14th of february.
Trade safe!
Komen:
www.tradingview.com/...n-BITCOIN-BTC-D/This is the post I've been reffering to