BTC Looking to rally and complete IH&S
Hi One and all to my first BTC analysis of 2019. I hope you all had a wonderful new year.
Without further ado, BTC.
I have removed my IH&S pattern to aid clarity, if you want to you can go back to my previous publication to read what I had to say there about the formation.
A word before we continue though, as you will no doubt see BTC slid a little into the downside before just making a push through the trend line i have drawn here, I believe if BTC can keep this momentum we will see the formation complete.
As of writing this BTC has tested the old line of resistance and looks to be using it as support, that bounce may be used to propel BTC to test £4000 before attempting to go further.
I will continue to monitor BTC and look for conformation of this break out, or alert for a potential break out.
I am leaning more towards being bulling at this current time due to the MACD starting to curve upwards as well as the 200 MA looking healthy.
Post your thoughts and question below guys, ill answer any points you have and am always open to debate if you disagree with anything i have written here.
Remember though folks, this is not financial advice and any trades you take are at your own risk.
I, like all traders will be watching BTC and will take positions accordingly.
Stay frosty,
Without further ado, BTC.
I have removed my IH&S pattern to aid clarity, if you want to you can go back to my previous publication to read what I had to say there about the formation.
A word before we continue though, as you will no doubt see BTC slid a little into the downside before just making a push through the trend line i have drawn here, I believe if BTC can keep this momentum we will see the formation complete.
As of writing this BTC has tested the old line of resistance and looks to be using it as support, that bounce may be used to propel BTC to test £4000 before attempting to go further.
I will continue to monitor BTC and look for conformation of this break out, or alert for a potential break out.
I am leaning more towards being bulling at this current time due to the MACD starting to curve upwards as well as the 200 MA looking healthy.
Post your thoughts and question below guys, ill answer any points you have and am always open to debate if you disagree with anything i have written here.
Remember though folks, this is not financial advice and any trades you take are at your own risk.
I, like all traders will be watching BTC and will take positions accordingly.
Stay frosty,
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.