BTC made a higher low double bottom with higher levels of relative strength and MACD bullish momentum. The interesting area to watch is the MACD moving averages breaking or rejecting the down-sloping resistance of a descending triangle pattern.
- Sell target is .886 retracement as there is a big bearish bat pattern PRZ and is close to double bottom measured move.
- Sell target is .886 retracement as there is a big bearish bat pattern PRZ and is close to double bottom measured move.
Comment:
Price may look to dip once more towards the lower part of the wedge. Also hitting the big bullish gartley PRZ around 8900
Trade active:
Entered Long Position at $9709 With Tight Stop at $9485
Trade closed: stop reached