Bitcoin - Coming to the end of an Ascending Triangle

22 avr. 2019

Bitcoin has been in another fight this week, attempting to set new relative highs. There has been a lot of selling pressure we have seen a few days, such as today with a few large sell orders on massive exchanges, and then similar experiences on the 10th/11th and 15th/16th. That being said, Bitcoin is proving strong as ever this past month and has been creating higher lows. Right now we are facing some heavy resistance around $5375-$5,400. If we break above that level, I can see us going to about $5,700 range before correcting a bit. Otherwise, I would be a bit cautious and set some stop losses below support for a potential correction coming. $5,200 is honestly a good spot to put a stop loss if you are trading Bitcoin on the short term, otherwise, I would hold on for the long run as Bitcoin is finally showing some great movement!

23 avr. 2019

Note

Looks like we have launched towards the moon, nearly hitting my targets. Personally, if you are in this for short term trades (leverage/day trading), this is a good point to take some profit. Happy to say this analysis turned out very well. This shows how strong Bitcoin is right now, despite facing a lot of selling pressure.