In spite of seemingly coordinated hacks against bitcoin exchanges (maybe FUD attempt by powers that be), the price continues to crawl up. Buys continue to climb up in spite of heavy sell pressure.
The safest short position is at the higher levels of the triangle. Less safe, but good nevertheless is to set buys just above the green trend line. If the price breaks out of the triangle, expect an aggressive pump. If the price breaks down out of the triangle, there maybe a gradually increasing decline.
The likelihood of a triangle breakout is slim, absent news. See
for reference.
The safest short position is at the higher levels of the triangle. Less safe, but good nevertheless is to set buys just above the green trend line. If the price breaks out of the triangle, expect an aggressive pump. If the price breaks down out of the triangle, there maybe a gradually increasing decline.
The likelihood of a triangle breakout is slim, absent news. See
