Ascending Triangle on BTC/USD

Jan 6, 2019

Did a TA on BTC against USD. BTC is at approximately $3,900 right now. It seems like there is an ascending triangle forming (depending on whether it will continue holding at this level. If BTC goes up to $4,050 (resistance point of the ascending triangle), i will consider longing it on bitmex. However, if BTC drops to below $3,800 and breaks the support of the ascending triangle, i might short it. Still awaiting confirmation. Although generally, the ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern.