Big Triangle Pattern on the BTC/USD Chart! Attempt on $3000 Imminent?steemCreated with Sketch.

in #bitcoin9 years ago (edited)

keychain.jpg

Bitcoin saw a tremendous surge after BIP-91 locked-in on Thursday, however, since then, price has been oscillating in a directionless manner between $2850 and $2650. There is now a clear triangle pattern that is visible on the 15-minute, as well as the 30-minute chart:

bitcoin_july22_2

Now, if this pattern isn't broken to the upside in the next 24-48 hours over the successful activation of BIP-91, and price descends lower for some reason, traders should keep in mind the pivot zone at $2660-$2670.

This area was used extensively as support/resistance, so I would assume this pivot zone will come into play in the event of a sell-off.

bitcoin_july22_3


Original article by @Techwizardry, follow me for the latest crypto technical analysis and market news!

DISCLAIMER : This content is for informational, educational and research purposes only. This post is not to be taken as investment/trading advice.

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@techwizardry
Nice writeup
Good job
Keep it up.

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