Symmetric Triangle on BTCUSD

Oct 5, 2018

On the chart of Bitcoin (BTC) vs American Dollar (USD) we can see a symmetric triangle in 8H time frame. As it shows in the chart, the price has not broken any of the trend lines yet, so we must wait a breakthrough and bounce to enter on a short or long position. If the price surpass the upper trendline, we open a long position with Take Proft around 7446 and a Stop Loss near 6407. On the other hand, if the price goes below the lower trend line, we open a short position with a Take Profit around 5751 and a Stop Loss near 6666. BTCUSD