Long

GOBTC potential breakout.

Updated

BINANCE:GOBTC is in this massive ascending channel. Within it we have this triangle-ish structure with a bunch of pokes into resistance. The more times a resistance/support is tested the weaker it becomes. Expecting this to break out soon. First target is around the channel median line. The fib pull shows we came to the golden zone (between the 618 and 65) making the first ago target the -236 which would be a good end target. By the breakout.

Note

Created a larger structure which happens often in areas of accumulation and distribution. This has looked very much like accumulation to me. Looks ready to GO (pun intended).

Note

ALts dumped a bit last night. GO still trying to recover. Not giving up on this quite yet seeing how other alts are popping this morning and recovering just fine. We still have the channel bottom and a longer term trend line in our favor.

Note

Still watching this to see if anything develops. There's much better looking alts out there right now. Kind of disappointing, but they can't all be winners.. But I'll keep an eye on this one in the mean time.

Cyrnix

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