BTC ascending triangle on 200MA

18 May 2018

As you can see the yellow circles are nudging the 200MA which is acting as resistance. Each rejection though is dipping less and less - forming an ascending triangle on the 200 MA.

Watch for the pink circle which is strong resistance - doubly for the 10k psychological plus the 200 MA. When it breaks 11k won't even get a look in as we fomo straight to 12K where I see next resistance.

Market is bearish now - but see my falling wedge chart idea just posted on smaller TF. I'm long but as always be safe and consider all possibilities with appropriate stops.

Good luck! :)