Bitcoin(BTC/USD): Morning Analysis "Triangle Breakout"

Bitcoin Morning Analysis .png

BTC D.png

Daily

It's seems as if Bitcoin is really struggling with it's $11,000 zone resistance. Already failing to break through twice, BTC looks to be forming an ascending triangle. Waiting for a daily candle to bounce from our trendline drawn.

BTC 4H.png

4Hour

When taking a look at a smaller timeframe we can see be bounced off our minor support zone $10,500 also being a great psychological support. Expecting price to hold here and consolidate a little more before breaking out.

BTC H.png

1 Hour

Our smallest timeframe shows last time we were at this price we bounced from $10,500 up to $11,500 with no trouble. Bounce 2 looks like market will be repeating itself.

Conclusion

If you are looking for an aggressive add to BTC now looks like a good time, if you are someone who usually plays it safe I would wait for the break and close above $11,000 zone. One thing is for sure, once BTC clears this resistance the March bull run begins Don't forget this is just my personal opinion i'm not a financial advisor :D

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