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$BTC needs to breakout of red triangle of death
Morning everybody, i have been very very slack on posting my thoughts and commentary on BTC over the last months due to real life commitments.
Let's get straight into it. As we can see on the 4h chart,BTC has been sliding down since the news (or no news?) of cryptocurrency regulation from G20 back on 19 March.
TheBTC slide started from $9.032, consolidated in a bear flag 2 times before reaching a low of $6,543 and currently forming another consolidating bear flag pattern. Over the course of yesterday, however, BTC has been tightening even more to form a symmetrical triangle. Although the MACD just had a bullish crossover last night, we need to look at the overall picture.
BTC over the last months due to real life commitments.Let's get straight into it. As we can see on the 4h chart,
BTC has been sliding down since the news (or no news?) of cryptocurrency regulation from G20 back on 19 March. The
BTC slide started from $9.032, consolidated in a bear flag 2 times before reaching a low of $6,543 and currently forming another consolidating bear flag pattern. Over the course of yesterday, however, BTC has been tightening even more to form a symmetrical triangle. Although the MACD just had a bullish crossover last night, we need to look at the overall picture.
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