Possible Trend Reversal. Awaiting Confirmation

31 Mar 2019

On Feb 9th i made a post calling for a drop in the coming months... and here we are. Since the lows in mid December, BTC has formed an ascending triangle and just passed the upper bounds of a long term downtrend. On this chart I included the original downtrend lines and support/resistance lines i did in my original post (orange: closing price trends lines- red: high/low trend lines are new). If BTC can hold support along the bottom ascending triangle lines, I expect it to retest the $5,600-$5,800 level. If it drops below the below both, I'm expecting it to drop near the $1,800-$2,000 range.

Educational. Not trade advice.

3 Nis 2019

Not

Expected the bounce with the ascending triangle but that was rather quick... expecting a decent pull back and retest near the 4,200 - 4,400 area sometime in the next few weeks. If it holds the bullish trend line, I think it could possibly hit $6k in the next few months.

Stop loss:$4,000