Just like my last update has shown bitcoin keeps breaking out of these ascending triangles, If I was a gambling man I would Long right now and put a sell order at 6200.
I believe Bitcoin will break this ascending triangle to the upside, We have seen in the past that descending and Ascending triangles have been a very reliable Technical analysis tool for Bitcoin.
As we can see these last few days have really dropped the daily RSI. I expect another dead cat bounce in the coming days.
If we can close above the 200 MA, and find support above it, I think this correction will be over.
The more likely event is that we close this week below the 200 MA and see lower lows.
Long @ 23600
Sell @ 25000
Stop-Loss @ 23250
The uptrend channel is on a massive breakout, seems to be a buying opportunity. We are seeing a large amount of buy volume, which is bullish.
Also notable, the RSI breached 30 yesterday. Today it has rebounded and now 30 is acting as a new support.
Long at 68.85, sell at 78.0, stop loss at 65.00.
**Disclaimer I am an amateur trader and I just want to record...
