AzzAChang

Mid-term Overview - Weekly descending triangle breakout??

COINBASE:BTCUSD   比特币
With weekly volume (bullish and bearish) dropping off since Dec '17, we have seen a descending triangle with three retests of the 5873 support line, with weakening buying pressure. The last two weeks seem to have broken the triangle bullish. If we can get continuation of the trend, a push through the 12 & 26 week EMA's, and a cross-over of these EMA's, we may see a reversal of a 6 month down-trend. Bulls need to form a higher low and then a higher high, before this can happen, otherwise we may see a bear flag, the confirmation of the descending triangle, and a mid-term support turn into resistance.
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