1. Bitcoin is in a descending channel
2. Orange Lines Are the Various Support/Resistance points within the channel
3. No need to go overboard with T.A on Bitcoin - Keep it simple and you'll be fine.
A recent entrant into the market, TROY has presented a trading opportunity worth consideration.
As per the chart, we see a descending triangle with a RSI indicating that the coin is somewhat oversold and we can expect either;
1) Trend Continuation - We will see a further decline
2) A Breakout to form Higher Highs & Lower lows
I am Long and have set a tight SL...
The commonly known phrase of "Buy the Rumour, Sell the News" was clearly in effect today with respect to the EOS Announcement.
Upon announcement, EOS fell sharply to the tune of approx 10%.
I am now following this coin closely with the hope of a nice breakout!
Thanks for reading!
![EOSBTC: [LONG] EOS - Post Announcement](https://s3.tradingview.com/v/vamqNiYe_mid.png "[LONG] EOS - Post Announcement")
