Bitcoin holding off near long term resistance !
Since it's all time high we can see that Bitcoin formed a very long symmetrical triangle and price has always been rejected when it touched tops of the triangle formation.
A breakout of the triangle would give us a very important signal that Bitcoin may have enter the early phase of it's new bull market. Accordingly to your trading strategy you can:
Less risky strategy:
*Wait for the breakout of the triangle formation
*Wait for a new consolidation on new highs
*Buy IF price breaks new consolidation
More risky strategy:
*Buy IF price breakout the triangle formation (50% of your investment)
*Wait for a new consolidation on new highs
*Buy IF price breaks new consolidation (50% of your investment)
A breakout of the triangle would give us a very important signal that Bitcoin may have enter the early phase of it's new bull market. Accordingly to your trading strategy you can:
Less risky strategy:
*Wait for the breakout of the triangle formation
*Wait for a new consolidation on new highs
*Buy IF price breaks new consolidation
More risky strategy:
*Buy IF price breakout the triangle formation (50% of your investment)
*Wait for a new consolidation on new highs
*Buy IF price breaks new consolidation (50% of your investment)
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