BTC Update
Diupdate
So the consolidation we saw over the past few days could very well just be a bull flag in the making. Admittedly, it does resemble a descending triangle which is seen as a bearish formation. However it looks like the price is breaking to the upside. This, along with the fact that we are respecting the 200 daily MA leads me to believe the buying will resume.
The Daily RSI is a little high and the MACD is showing a buy signal.
Watch for volume to pick up before opening any long positions with stops around 8950.
Happy Trading!
The Daily RSI is a little high and the MACD is showing a buy signal.
Watch for volume to pick up before opening any long positions with stops around 8950.
Happy Trading!
Catatan
Amending the trend line a little. Play the breakout of this formation.
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