I have been tracking BTC daily chart which has been building on the ascending triangle since bottoming at 29k on July 20th. The bulls have been pushing BTC upwards slowly wearing down the bears. I entered this this trade at 48k anticipating a break above 50k which I believe will eventually hold. I measured from the bottom of the ascending triangle to 50k resistance which places BTC at new all time high of 73k. Here I will look to take profit or move my stop loss just below 70k in case we see a selloff.
Main things I am watching
Happy trading everyone!
Main things I am watching
- Ascending triangle break above 50k and remain within that range.
- MACD looks like we are seeing bullish cross over.
- RSI on the one day looks to be breaking above the downtrend.
- PPI Report release 9/10 measures inflation from domestic producers of goods and services.
- CPI Report release 9/14 measures inflation of consumer prices.
Happy trading everyone!
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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.