Bitcoin Breaks Ascending Triangle Pattern

Aug 17, 2020

BTCUSD

As you can see in the chart, Bitcoin has broken an Ascending Triangle Pattern today, with the break of the $12,100 USD level on Bitcoin.

freeonlinetradingeducation.com/ascending-triangle.html

The target will de the $13,600 USD level, which is calculated by adding the length of the triangle to the breakout point.

The highs of June of 2019 are at $13,900 USD. So, the area of $13,600 to $13,900 USD would be an area of strong resistance and maybe a nice level to take profits on the short term.

Today break was with a strong volume, which gives me confidence that the upside move will continue. I expect the target will be reach soon, maybe as soon as this week or next.

I hope you find this interesting and good luck to you.

Aug 19, 2020

Trade active