Ascending bullish triangle.
My motto is "keep it simple"!
What do you see when you look at the chart? You can see that the price get rejected from the purple horizontal line (resistance) and its trading within a ascending triangle. This is a bullish sign, as it shows that the bulls are still in the market, however, there could be easily done some manipulation and long squeeze.
Its very important to watch the price, once it closed on 4H candle under the triangle and breaks the 100 EMA, you should be closing any long possitions, so watch your stop losses!
If the price dips under the 200 EMA, there will be oportunity to go short up to the orange line, where is a strong support. If this support will be broken, bitcoin will dip to retest its lowest lows.
We should see a major move within the end the month or soon by the start of may, I am more bull than bear, clearly by looking at alt market and the lacking overbought indicators.
I believe we should retest the 5800 - 6200$ mark, if the triangle will hold up, before making a correction at those levels.
What do you see when you look at the chart? You can see that the price get rejected from the purple horizontal line (resistance) and its trading within a ascending triangle. This is a bullish sign, as it shows that the bulls are still in the market, however, there could be easily done some manipulation and long squeeze.
Its very important to watch the price, once it closed on 4H candle under the triangle and breaks the 100 EMA, you should be closing any long possitions, so watch your stop losses!
If the price dips under the 200 EMA, there will be oportunity to go short up to the orange line, where is a strong support. If this support will be broken, bitcoin will dip to retest its lowest lows.
We should see a major move within the end the month or soon by the start of may, I am more bull than bear, clearly by looking at alt market and the lacking overbought indicators.
I believe we should retest the 5800 - 6200$ mark, if the triangle will hold up, before making a correction at those levels.
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