Take a look at the 50 and 200 MA. During the consolidation, the 50 failed to cross above the 200. However, the 200 was in an upward movement. This time around, the 200 has taken a turn for the downside while the 50 looks to pop upward. In the triangle, the consolidation period looks to end right at Christmas time. If we have a 50/200 crossover, and a breakout of the triangle, I am bullish AF. Although I already am.
Long Term Target 1: $.014
Target 2: $.022
Long Term Target 1: $.014
Target 2: $.022
Trade active:
The RSI is looking to bottom out at the lower limit. This is great news for us because we are still within the triangle limits. The 50ma is kissing the 200 and looking for a push above. Barring any huge market dumps, we can still look forward to a breakout. Wait for confirmation.
Comment:
The 50 MA has successfully crossed above the 200 MA. We are looking to fill out this triangle and a breakout will confirm this chart.
Comment:
BTTUSDT is in the pressure cooker right now. In the last 24 hours it has bounced off the upper and lower limit of the triangle. Pressure is building in the final days of this long awaited pattern. If you notice over the course of several weeks BTT has been trading in a range where the limits that were tested became faster and faster until last night it was a very quick touch up and down. I would wait for a breakout in the next week.
Comment:
BTTUSDT looked to break out to the bottom side but has already put itself back into contention. The triangle is still at play. However, this is a modest triangle setup, BTT has already broken out of other triangle setups. Let's see if this holds any weight. They just announced a redenomination plan on the 12th. Higher supply as well. Maybe they have some big plans in the coming months.
Comment:
Alright so we have the first confirmation that the 50ma has bounced off the 200ma towards the upside. This should be a nice little run. We also have a breakout above the triangle.