We're in a Triangle (Neutral with Bullish Leanings)
Updated
Recently we did a monster break out of a descending triangle. This was bullish. However, we've yet to re-test our bottom trendline. If we test it (currently just under 10k) and it holds, that will be bullish.
Likewise, if we break out of our upwards trend line that will also be bullish (both are pictured with arrows).
Looking at the next week of trading, I have bullish leanings but that doesn't discount that we can still dip below 10k as that's where our bottom trendline is. As long as that holds and we move upwards we're good.
I have no open position in BTC as I await confirmation.
Likewise, if we break out of our upwards trend line that will also be bullish (both are pictured with arrows).
Looking at the next week of trading, I have bullish leanings but that doesn't discount that we can still dip below 10k as that's where our bottom trendline is. As long as that holds and we move upwards we're good.
I have no open position in BTC as I await confirmation.
Trade active
I'm now long. Broke above the trend line in an upward channel. It re-tested that trend line many hours later and held it.
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