BitcoinLong
Bitcoin temporary bottom created
Updated
BTC showing signs of an ascending triangle here. Potential bottom being formed. Breakout above $17450 and we get a measured move target toward $18500.
We've also held steady on the monthly VWAP (white line). Generally in bullish trending markets, BTC loves coming back toward the monthly VWAP and create a temporary bottom.
We do have the weekly Pivot above us around $17800. Unless we can break above that and hold, it's possible we get sent back down toward support levels. Break and hold above Pivot and we head toward $18500 target.
We've also held steady on the monthly VWAP (white line). Generally in bullish trending markets, BTC loves coming back toward the monthly VWAP and create a temporary bottom.
We do have the weekly Pivot above us around $17800. Unless we can break above that and hold, it's possible we get sent back down toward support levels. Break and hold above Pivot and we head toward $18500 target.
Note
GBTC filled in the gap from November 16 but now we have a gap left from November 27 which is GBTC price of $20.95 which is equivalent to $19000 flat on BTC spot prices
Trade closed manually
Took the long around 174XX
Closed trade $18200
P&L: +4% PROFIT
Trade CLOSED
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