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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Join our Crypto movement with Alpha Trades
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.