MattMcilwham
Long

Bitcoin breaking local downtrend

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has just broken its local downtrend while finding support on an ascending triangle . This looks like a nice, slow accumulation phase.

The next steps are to break local highs, in blue, and the ichi cloud is at the second blue line $11800. Typically, a good long is the end to end play on an ichi cloud, if we pierce through it, i'm taking a position.

to confirm this uptrend, I would say that we need to test and confirm support on the old downtrend.

The red lines are long term support starting from the $3k and $5k region, I was looking at a short but now we have a solid accumulation phase starting.

Not financial advice, just letting people know what I plan to do.
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