Ascending Triangle breakout for BTC!
Bitcoin has broken flush out of an ascending triangle to the upside.
On the RSI there's a noticeable breakout of what appeared to be a giant multi month descending triangle, turns out it was a bullish flag, we've already seen a back-test of what was the downward sloping resistance, and it has acted as support for the time being.
On the KST we can see a similar ascending triangle as in the price action, and a noticeable bullish cross breaking BTC out of the pattern to the upside.
I'm expecting some resistance before a blue sky breakout, maybe a re-test of the horizontal top of the ascending triangle, it would be ideal if there was any retracement from here that old resistance would turn into new support.
The green line is one possible scenario complementing my above thoughts.
On the RSI there's a noticeable breakout of what appeared to be a giant multi month descending triangle, turns out it was a bullish flag, we've already seen a back-test of what was the downward sloping resistance, and it has acted as support for the time being.
On the KST we can see a similar ascending triangle as in the price action, and a noticeable bullish cross breaking BTC out of the pattern to the upside.
I'm expecting some resistance before a blue sky breakout, maybe a re-test of the horizontal top of the ascending triangle, it would be ideal if there was any retracement from here that old resistance would turn into new support.
The green line is one possible scenario complementing my above thoughts.
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