Crypto to Watch - Bitcoin (BTC) - Symmetrical triangle about to break!

in #bitcoin6 years ago

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Bitcoin looks like it is about to make a move according to the one day chart.

Some things to note:

  • Bitcoin is trading on the 50 day moving average
  • The volume is declining
  • Bitcoin is nearing the upper line of the descending triangle
  • The MACD is about to cross bearish
  • The current candle is bullish

I think the odds oa 60/40 in favor of a bull break as a symmetrical triangle pattern has not formed since Oct 2017 and that break was bullish.

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