CFcryptoTA

BTC ascending triangle in play!

BITFINEX:BTCUSD   Bitcoin
BTC is definitely moving sideways, which is a great time to accumulate more alts and open longs at the right time! i believe the next move will be down to 7500 to then bounce up to 7.7 k than a small pullback to than break the triangle to reach the 8k resistance. good opportunity are about to form. The RSI is working on the support and i believe there will be a retracement on support to then bounce again moving slowly sideways. i estimate that the break of the triangle will be around the beginning of next week. 12/06. In the meantime, i am looking to open the next long at 7.5k with a SL at 7.4k ish. The volume is slightly picking up but it s still quite weak and as the weekend approaches, which usually mark low volume, a pullback to 7.4-7.5 is really likely. The 1D timeframe looks somehow bullish as the RSI is proceeding on the support but the volume doesn't sustain the hypothesis of a decisive breakout of the 7.7k so we just need to wait till the next clear move. right now i am looking to pick up few alts at good price to ride the next move up.

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