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Bitcoin Technical Analysis

Discussion in 'Expert Level' started by Arpit, Jan 27, 2019.

  1. Arpit

    Arpit Moderator Premium Member

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    We are looking at the 3H chart of BTCUSD.
    Screen Shot 2019-01-27 at 12.27.41 pm.png

    The price is moving inside a symmetrical triangle and got a clear rejection from the 100 EMA. However, seeing the Bitmex perpetual contract expiry coming up, we can see some volatility. We need some huge volume as of now to break through the 100 and 200 EMA Resistance. We can expect a reversal(C wave) till somewhere around 4500 and then a further decline. The breakout target of the triangle on the upside is around 4800.
    It would be safe to take the trade once we have the breakout.

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