BTC symmetrical triangle confirmed

30 cze 2018

BTC has broken north out of its symmetrical triangle, further confirming my idea that a short bull run has been cooking up, and now perhaps begun. Yesterday it fell out of its rising wedge, but when it double bottomed, it popped up right back into the wedge and formed a beautiful textbook symmetrical triangle. This makes sense with BTC now showing quintuple bullish divergence on MACD oscillators. The symmetrical triangle tells us now, at least in the short term, BTC is no longer bearish in nature; it is now neutral. But with the quintuple bullish divergence on the MACD daily and bullish divergence on the RSI daily, BTC really makes a strong case that it is headed into a bull run. 6800 is now the measured move of the double bottom and will be tested as resistance. If it breaks and hooks off, 6800 will be the new support level and 7000s will be on the horizon.